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Nikiville's General Fund made several transfers of cash this calendar year. Record each of the following transfers in the general journal of the General Fund:
Nikiville's General Fund made several transfers of cash this calendar year. Record each of the following transfers in the general journal of the General Fund: (1) The General Fund purchased water from the Water Utility Fund for use by the fire department in the amount of $100,000 and paid cash. Date Account Name Debit Credit (2) The General Fund provided $50,000 to start up an internal service fund for sharing payroll services across all funds within the government. Cash was paid as a permanent investment in the new internal service fund. Date Account Name Debit Credit (3) The General Fund loaned the special revenue fund $20,000 in anticipation of a federal grant that has been awarded to the city but not yet received. Date Account Name Debit Credit
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