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Prepare debt service fund and government-wide entries in general journal form to reflect, as necessary, the following information and transactions for FY 2017. (1) The

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Prepare debt service fund and government-wide entries in general journal form to reflect, as necessary, the following information and transactions for FY 2017. (1) The operating budget for FY 2017 consists of estimated revenues of $1,020,000 and estimated other financing sources equal to the amount of interest to be paid in FY 2017. Appropriations must be provided for interest payments and bond redemptions on January 1 and July 1. (2) Cash was received from the General Fund and checks were written and mailed for the (3) Property taxes in the amount of $1,020,000 were levied (no estimate for uncollectible (4) Property taxes in the amount of $1,019,000 were collected. January 1 principal and interest payments. accounts has been made). (5) Cash was received from the General Fund and checks were written and mailed for the July 1 principal and interest payments. (6) Adjusting entries were made and uncollected taxes receivable were reclassified as delinquent. At the fund level, entries were also made to close budgetary and operating statement accounts. (Ignore closing entries in the government activities journal.) Prepare debt service fund and government-wide entries in general journal form to reflect, as necessary, the following information and transactions for FY 2017. (1) The operating budget for FY 2017 consists of estimated revenues of $1,020,000 and estimated other financing sources equal to the amount of interest to be paid in FY 2017. Appropriations must be provided for interest payments and bond redemptions on January 1 and July 1. (2) Cash was received from the General Fund and checks were written and mailed for the (3) Property taxes in the amount of $1,020,000 were levied (no estimate for uncollectible (4) Property taxes in the amount of $1,019,000 were collected. January 1 principal and interest payments. accounts has been made). (5) Cash was received from the General Fund and checks were written and mailed for the July 1 principal and interest payments. (6) Adjusting entries were made and uncollected taxes receivable were reclassified as delinquent. At the fund level, entries were also made to close budgetary and operating statement accounts. (Ignore closing entries in the government activities journal.)

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