Worth 30 points

As of July 1, 2014, the City of Saratoga Springs decided to purchase a privately operated swimming pool and to create a Swimming Pool (Enterprise) Fund. During the year, the following transactions occurred: (a) A permanent contribution of $800,000 was received from the General Fund. (b) $1,000,000 was borrowed with a Note Payable from a local bank at an interest rate of 6%. (c) Purchased for cash several items, the cost breakdown was: land, $300,000; building, $400,000, land improvement, $400,000; equipment, $200,000; supplies, $190,000. (d) Charges for services amounted to $600,000, all received in cash. (e) Cash expenses included: salaries, $200,000; utilities, $100,000; interest (paid on 6/30/2015), $60,000. (f) Supplies were consumed in the amount of $120,000. (g) Depreciation was recorded for: building, $20,000, land improvement, $40,000; equipment, $20,000. (h) The books were closed. Close all accounts to Net Position. Required: 1. Record the above transactions in general journal form (on the books of the swimming pool fund).