Question
Listed below are selected transactions which are accounted for in an Enterprise Fund. All amounts are in thousands of dollars. Prepare the journal entries required
Listed below are selected transactions which are accounted for in an Enterprise Fund. All amounts are in thousands of dollars. Prepare the journal entries required in the Enterprise Fund. If no entry is required, state "No entry required"
ANSWER THE FOLLOWING QUESTIONS
1. Estimated bad debts for the year were $100.
2. $750 was collected from other funds, and $4,000 was collected on account.
3. Services of $5.000 were provided and billed to outside customers.
4. Services of $750 were provided and billed to the General Fund.
5. $20 of accounts receivable were written off as uncollectible.
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