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Problem 4: Matching transactions with funds Indicate which fund or funds would be used by the State of Illinois to record each of the
Problem 4: Matching transactions with funds Indicate which fund or funds would be used by the State of Illinois to record each of the following events. Use the codes shown below for each fund type (remember, some events affect more than one fund). General Fund GF Pension Trust Fund PTF Special Revenue Fund SRF Custodial Fund CF Debt Service Fund DSF Internal Service Fund ISF Capital Projects Fund CPF Enterprise Fund EF Events for the State of Illinois (you can use the abbreviations for each fund in your answers): 1. The State paid $13,000 for the purchase of 10 iPad Pros for the Governor's staff, using resources of the State's major operating fund. 2. The State sold $55 million of general obligation serial bonds to finance the construction of a 25 story building located in Chicago. The building will be named the State of Illinois Center and will be located at 100 West Randolph Street. The bond proceeds were deposited in the fund responsible for building construction. 3. A payment of $12,000,000 was made to the Ace Construction Company for work completed on the construction of the State of Illinois Center. 4. The fund responsible for the payment of the general obligation serial bonds issued for the State of Illinois Center received $1,500,000 from the State's major operating fund.
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