Question
Receivables between funds( record the general fund entries only) To record a loan of $15,000 to the Capital Projects Fund. Interfund Loan Receivable 23 350
Receivables between funds( record the general fund entries only)
To record a loan of $15,000 to the Capital Projects Fund.
| Interfund Loan Receivable | 23 | 350 | $ 15,000 | |
| Accounts Payable | 23 | 601 | $ 15,000 |
To record repayment of loan made to the Capital Projects Fund. Interfund loan interest of $1,000 is collected in accordance with WAC 392-123-150.
| Exprenditures | 24 | 530 | $ 16,000 | |
| Accounts Payable | 24 | 601 | $ 15,000 | |
| Warrant outstanding | 24 | 241 | $ 1,000 |
Is this correct?
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Human Resource Management
Authors: Robert L. Mathis, John H. Jackson
13th Edition
053845315X, 978-0538453158
