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I need the journal entry for this. [Para. 4-a-15] It was discovered that goods in the amount of $12,000 had been recorded in error as
I need the journal entry for this.
- [Para. 4-a-15] It was discovered that goods in the amount of $12,000 had been recorded in error as an expenditure against the General Government appropriation of the General Fund. These goods should have been charged to the Solid Waste Disposal Fund, an enterprise fund and a business-type activity at the government-wide level. This item had also been charged as an expense of the General Government function at the government-wide level. An interfund invoice was prepared to reduce expenditures of the General Fund for the $12,000 and recognize an interfund receivable. This item will be recognized later in Chapter 7 of this case as an expense of the Solid Waste Disposal Fund.
Required: Record this reimbursement transaction in the General Fund and governmental activities journals, debiting Due from Other Funds in the General Fund and Internal Receivables from Business-type Activities at the government-wide level. Do not make any entries in the Solid Waste Disposal Fund at this time. (Note: Select Goods Received in the [Transaction Description] box in the Detail Journal).
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