I just want to make sure I am doing this correctly.

Scenario 1: Kendal County engaged in the following transactions: It levied and collected $1million in taxes dedicated to the repayment of outstanding general obligation bonds. It billed sponsors of a charity bicycle ride $5,000 for providing police patrols during the ride. It recognized $60,000 of cash dividends on investments dedicated to the support of a county arts center. It recognized $70,000 of cash dividends on investments dedicated to scholarships for needy county residents. It incurred $6 million in construction costs to complete a new county jail. The new jail was funded entirely with the proceeds of longterm bonds. It transferred $400,000 of unrestricted funds to an appropriate fund to be invested and eventually used to repay the principal on the longterm jail bonds (entries in two funds required). It recognized depreciation of $100,000 on equipment in a vehicle repair center that services all county departments that have motor vehicles. It collected $30,000 in parking fees at the countyowned garage. It issued $8 million in bonds to improve the cityowned electric utility. It distributed $3 million in taxes collected on behalf of school districts located within the country. Instructions: 1. 2. Prepare appropriate journal entries. Indicate the type of funds in which these transactions would most likely be recorded. Scenario #1: #1. Debt Service Fund Cash $1,000,000 Property tax revenue $1,000,000 To record the collection of taxes and dedicated repayment of outstanding general obligation bonds. #2. General Fund Cash $5,000 Accounts Receivable $5,000 To record the billing of sponsors for police patrols during bicycle ride. #3. Permanent Fund Cash $60,000 Dividend Revenue $60,000 To record cash dividends on investment dedicated to county arts center. #4. Fiduciary Fund Cash $70,000 Dividend Revenue $70,000 To record cash dividends on investments dedicated to scholarships for county residents. #5. Capital Projects Cash $6,000,000 Proceeds from borrowing $6,000,000 To record the issuance of bonds Construction of building (expenditure) $6,000,000 Cash $6,000,000 To record the construction of a building #6. General Fund/Debt Service Fund Nonreciprocal transfer-out to debt service fund $400,000 Cash $400,000 To record transfer to debt service fund (in general fund). Cash $400,000 Nonreciprocal transfer-in from general fund $400,000 To record transfer from general fund (in debt service fund) #7. Internal Service Fund Deprecation $100,000 Accumulated Depreciation- Equipment $100,000 To record depreciation on equipment. #8. Enterprise Fund Cash $30,000 Revenue (Parking Fees) $30,000 To record collection of parking fees. #9. Enterprise Fund Cash restricted to city-owned electric utility Revenue bonds payable $8,000,000 $8,000,000 To record issuance of bonds for improvement to electric utility. #10. Agency Fund Due to Schools Cash $3,000,000 $3,000,000 To record distribution of taxes collected on behalf of schools