The City of Sioux Falls entered into a number of transactions for the current fiscal year. Identify the fund or funds affected by each transaction and determine how each transactionwill affect the accounting equation of the particular fund. There are five transactions.

Complete the problem below in the space provided. The City of Sioux Falls entered into a number of transactions for the current fiscal year. Identify the fund or funds affected by each transaction and determine how each will affect the accounting equation of the particular fund. There are five (5) transactions 1.) Sioux Falls paid salaries to general government employees, $95,000. 2.) Sioux Falls purchased an automobile by issuing a $25,000, 8% note to the vendor. The purchase occurred at mid-year, an the note is a one-year note. 3.) The city sold general fixed assets with an orginal cost of $300,000 for $30,000 at the end of their useful life. The use of the resoures received is not restricted. 4.) "Profits" of $500,000 from the airport enterprise fund were transferred to the general fund of the city to be used for general fund operations. 5.) Interest income collected on Sioux Fall's general fund investments totaled $70,000 for the year. ch transaction