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Please, I need help with preparing the jurnal entries for these transactions. Thank you! PART 2 Prepare journal entries for the following independent transactions. Please
Please, I need help with preparing the jurnal entries for these transactions. Thank you! PART 2 Prepare journal entries for the following independent transactions. Please include each entry for each fund or account group when more than one is involved. Also include the budgetary entry when needed. Label each entry by fund or account group 1. Payment of $600,000 of General Fund cash is authorized and paid to provide permanent capital for a new Internal Service Fund. 2. A new paving machine for the Street Department (Transportation) was ordered at a price of $35,000 6. Enterprise Fund services of $5,000 were provided and billed to outside customers 7. Office equipment that had been order with a purchase order on June 1st was received on June 25th. The equipment is for the general accounting department. The invoice was approved for $46,500. 8. Enterprise Fund services of $750 were provided and billed to the General Fund. 9. Central Supplies Fund (ISF) billings to departments totaled $61,000. Collections from the departments totaled $57,500 10. The Municipal Airport fund invested $5,000,000. When they redeemed $700,000 of the investment, they received $798,000 cash
Please, I need help with preparing the jurnal entries for these transactions. Thank you!
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