Question
I need journal entries for the following transactions The city collected $200,000 when investments matured and also collected the following General Fund revenues during the
I need journal entries for the following transactions
The city collected $200,000 when investments matured and also collected the following General Fund revenues during the year:
Fines and forfeitures 48,480
Unrestricted grants from the state 346,200
Licenses and permits 122,460
Interest revenue from investments
(including $2,000 accrued at the end of 20X3) 42,000
Total 559,140
The city incurred and paid salary expenditures as follows:
Accrued salaries payable, January 1 50,000
General government 180,000
Public safety 580,000
Highways and streets 150,000
Parks and recreation 220,000
Total 1,355,000
The city ordered General Fund materials and supplies as follows:
General government 10,000
Public safety 40,000
Highways and streets 75,000
Health and sanitation 40,000
Parks and recreation 30,000
Total 195,000
Billings were received from the Water and Sewer Enterprise Fund as follows:
General government 900
Public safety 13,500
Highways and streets 3,300
Health and sanitation 2,900
Parks and recreation 1,900
Total 22,500
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