The Library Special Revenue Fund started calendar year 3019 with a cash balance of $5,000, no liabilities, and a restricted fund balance of $5,000. Post the opening balances to the T-accts. Prepare the journal entries to record the following transctions in the Library Special Revenue Fund, and, where appropriate in the General Fund. Post the entries to the appropriate T-accts.

1. The General Fund transferred $100,000 cash to the Library Special Fund to help the library finance its activities for the year.
2. The library received a grant of $300,000 from the county. The grant must be used only for library purposes, but there is no requirement as to when it must be spend.
3. The library received $20,000 from fines, donations, and various fundraising events.
4. The library paid $350,000 for salaries and $40,000 to acquire books and periodicals. Charge the Expenditures-culture salaries and Expenditures-culture supplies accounts respectively.

Cash Transfer in from Gen Fund dr cr Revenue Intergov Grants dr Revenue Miscellaneous dr cr dr cr cr Expenditures Culture salaries Expenditures Culture supplies dr Restrictedf Fund Balanc dr dr cr cr cr JOURNAL ENTRIES C5B-1 To record interfund transfer C5B-2 To record grant from county C5B-3 To record receipt of fines, donations and other rev C5B-4