i nces Mc araw Saved The following transactions affected various funds and activities of the Town of Big Springs. Required a. Prepare the journal entries for the funds and activities. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Transaction Fund/Governmental Activties General Journal Debit Credit 1. The Fire Department, a governmental activity accounted for within the General Fund, purchased $180,000 of water from the Water Ubility Fund, an enterprise fund 1 General Fund Expenditures Cash Governmental Activities Expenses-Public Safety Cash Enterprise Fund Cash Revenues 165,000 165,000 165,000 165,000 165,000 165,000 2. A special revenue fund was awarded a $250,000 reimbursement grant. The General Fund advances $90,000 to the special revenue fund for a short-term period to cover initial costs associated with the grant's purpose. 2 General Fund Interfund Loans Receivable-Current Cash Governmental Activities No Journal Entry Required Special Revenue Fund Cash Interfund Loans Payable-Current 3. The General Fund transferred its annual contribution of $180,000 to the debt service fund for interest and principal on general obligation bonds due during the year. 3 General Fund Governmental Activities Hill Connect Program-PLEASE BOOKMARK SP22 ACCT415 WEB Govern er 4 Homework Question 4-Chapter 4 Homework - Connect Saved 4 eBook Print Special Revenue Fund Cash Interfund Loans Payable-Current 3. The General Fund transferred its annual contribution of $180,000 to the debt service fund for interest and principal on general obligation bonds due during the year. 3 General Fund Governmental Activities Debt Service Fund References 4. The $6,600 balance in the capital projects fund at the completion of construction of a new Town Hall was transferred to the General Fund. General Fund 4 Governmental Activities Capital Projects Fund 5. The General Fund made a long-term loan in the amount of $20,000 to the Central Stores Fund, an internal service fund that services town departments 5 General Fund Governmental Activities Internal Service Fund