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Muscat government maintain Governmental Funds. The following information is available for the financial year ended 31/12/2020. The Muscat government transferred OMR 1,500,000 on 1st Feb

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Muscat government maintain Governmental Funds. The following information is available for the financial year ended 31/12/2020. The Muscat government transferred OMR 1,500,000 on 1st Feb 2021 to Internal Service Fund to establish the service center as a residual equity transfer. The Internal Service Fund on 15th March 2021 billed the General Fund for utilizing the services OMR 35,000. Pass the necessary journal entry for this transaction in various funds and contemplate of funds

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