journal entries to be made in calender year 2021

1. Wages and related benefits of employees for the last pay period in December 201 were $40 million. Employees are to be paid on January 6,202. The fiscal year ends December 31 . Fund Government-wide 2. In 201 the City ordered supplies that cost $4 million, received supplies that cost $3.5 million, paid for supplies that cost $3 million and used supplies that cost $3.3 million. (Include encumbrance entries, Purchase Method entries and Consumption method entries.) Fund Government-wide 3. On June 15, 20X1 the City acquired and paid for an insurance policy that cost $300,000. The policy covers the one-year period beginning July 1 . Include both purchase and consumption method entries. Fund Government-wide 7. In July, the City issued $100 million in 8 percent general obligation debt to finance capital improvements. The first interest payment of $4 million is due in early January 202. Fund Government-wide 8. In December the City transferred $2 million to the debt service fund for repayment of principal on serial bonds issued several years earlier. The payment is due in January. Fund Government-wide 9. Consistent with its budget, the City transferred $6 million to a debt service fund to accumulated resources for the eventual payment of debt. Fund Government-wide 7. In July, the City issued $100 million in 8 percent general obligation debt to finance capital improvements. The first interest payment of $4 million is due in early January 202. Fund Government-wide 8. In December the City transferred $2 million to the debt service fund for repayment of principal on serial bonds issued several years earlier. The payment is due in January. Fund Government-wide 9. Consistent with its budget, the City transferred $6 million to a debt service fund to accumulated resources for the eventual payment of debt. Fund Government-wide 4. The City acquired a computer at a cost of $3 million, paid in cash. It has a useful life of three years. Fund 5. It acquired the same computer, issuing a three-year, 6 percent, installment note for the purchase price. During the year it paid the first installment of $1,122,330 (interest of $180,000 and principal of $942,330)