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Problem 3. The following events take place: 1. Inte the General Fund. 2. The Internal Service Fund bills the Special Revenue Fund $25,000 for services
Problem 3. The following events take place: 1. Inte the General Fund. 2. The Internal Service Fund bills the Special Revenue Fund $25,000 for services performed. 3. The Special Revenue Fund transfers $10,000 to the Internal Service Fund as a temporary loan. 4. The General Fund transfers $150,000 to start an Internal Service Fund. Instructions: Identify the interfund activity as a loan, services provided and used, interfund transfer, or interfund reimbursement and prepare entries in general journal form to record the transactions on the records of the fund involved rest payments in the amount of $20,000 that are the responsibility of the Debt Service Fund are paid by
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