Homework 0 Saved The following transactions affected various funds and activities of the Town of Big Springs Required a. Prepare the journal entries for the funds and activities. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Fund I Govurnmental Transaction Activties General Journal Debit Credit 1. The Fire Department, a governmental activity accounted for within the General Fund, purchased $180,000 of water from the Water Utity Fund, an enterprise fund 1 General Fund Expenditures 165,000 Cash 165,000 cos Governmental Activities (Expenses--Public Safety Cash 165,000 165,000 Enterprise Fund Cash Revenues 165.000 165,000 2. A special revenue fund was awarded a $250,000 reimbursement grant. The General Fund advances $90,000 to the special revenue fund for a short-term period to cover initial costs associated with the grant's purpose 2 General Fund Berfund Loans Receivable Current Cash Governmental Activities (No Journal Entry Required Special Revenue Fund Cash Interfund Loan Payable Current 3. The General Fund transferred its annual contribution of $180,000 to the debt service fund for interest and principal on general obligation bonds due during the year 3 General Fund Governmental Activities ?? Saw Kill Connect Program - PLEASE BOOKMARKI: SP22. ACCT415_WEB_Govern. er 4 Homework M Question 4 - Chapter 4 Homework - Connect Saved A Special Revenue Fund Cash interfund Loans Payable-Current 3. The General Fund transferred its annual contribution of $180,000 to the debt service fund for interest and principal on general obligation bonds due during the year 3 General Fund eBook Governmental Activities Print Debt Service Fund References 4 The 56.600 balance in the capital projects fund at the completion of construction of a new Town Hall was transferred to the General Fund 4 General Fund Governmental Activities Capital Projects Fund 5. The General Fund made a long-term loan in the amount of $20,000 to the Central Stores Fund, an internal servicefund that services town departments 5 General Fund Governmental Activities Internal Service Fund