Question

Interfund transactions Prepare journal entries to record these interfund transactions in each affected fund: 1. The General F
2. The General Fund sends $100,000 cash to the Debt Service Fund so the latter fund can pay the debt service on general oblig
Motor Pool Internal Service Fund Description Debit Credit + 4. The General Fund had previously paid $34,000 for consulting se
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Answer #1

ANSWER 1

GENERAL FUND
DESCRIPTION DEBIT CREDIT
SPECIAL REVENUE FUND $75000
CASH $75000
SPECIAL REVENUE FUND
CASH $75000
GENERAL FUND $75000

ANSWER 2

GENERAL FUND
DESCRIPTION DEBIT CREDIT
DEBT SERVICE FUND $100000
CASH $100000
DEBT SERVICE FUND
DESCRIPTION DEBIT CREDIT
CASH $100000
GENERAL FUND $100000

ANSWER 3

GENERAL FUND
DESCRIPTION DEBIT CREDIT
MOTOR POOL SERVICE $45000
MOTOR POOL INTERNAL SERVICE FUND $45000
MOTOR POOL INTERNAL SERVICE FUND
DESCRIPTION DEBIT CREDIT
GENERAL FUND $45000
MOTOR POOL SERVICE $45000

ANSWER 4

GENERAL FUND
DESCRIPTION DEBIT CREDIT
CAPTIAL PROJECT FUND $10000
CONSULTING SERVICE $10000
CAPTIAL PROJECT FUND
DESCRIPTION DEBIT CREDIT
CONSULTING SERVICE $10000
GENERAL FUND $10000
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