prepare a city of ashland recreation center construction fund balance sheet for the year ended december 31

Transaction 1: Transaction 2: Transaction 3: Transaction 4: Transaction 5: Transaction 9: Transaction 10: Transaction 11: Transaction 6: Explanation: - Transaction 1 is recorded as an expenditure and a liability because the services have been received but not yet paid for. Step 2/2 Transaction 7: Transaction 8: Juring fiscal year 19x8, the voters of the City of Ashland approved the construction equipping of a recreation center to be financed by tax-supported bonds in the amount $5,000,000. During 198, the following events and transactions occurred: 1. Preliminary planning and engineering expenses were incurred in the amount of $125,000. No money was immediately available for paying these costs (credit Vouchers Payable). 2. Supplies to be used by the city's own working force in connection with the project were ordered in the amount of $50,000. 3. A contract was let under competitive bids for a major segment of the construction project in the amount of $4,000,000. 4. All the supplies referred to in item 2 were received ut u ne? sost of $50,500. This amount was approved for payment. 5. An interfund invoice (not encumbered) was received trom the Street Fund for work done on the project in the amount of $60,000. The in: ive was approved for payment. 6. An invoice for $2,100,000 was received from a contractor for . portion of work that had been completed under the general contract. 7. The bond issue was sold at par plus accrued interest the assued interest was deposited in the fund which will service the bonded deb: . 8. The amount due the Street Fund was paid. 9. The contractor's bill, less a 5 percent retention, was vouchero: :: payment. 10. All vouchers payable, except $1,300, (about which there was s ume controversy), were paid. 11. Cash in the amount of $2,500,000 was invested in short-tern rarketable securities. 12. Fiscal year-end closing entries were prepared. a. Prepare journal entries to record the above information in the general ledger accounts of the Recreation Construction Fund (you may omit subsidiary ledger accounts.)