Homework 18.xlsx - 1 On October 1 2019 the city ordered copy paper for $600 They received the paper on October 12 2019 and paid for it on Record the

Homework 18.xlsx - 1 On October 1 2019 the city ordered...

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1. On October 1, 2019, the city ordered copy paper for $600. They received the paper on October 12, 2019 and paid for it on October 31, 2019. Record the proper journal entries. 10/1/2019 Encumbrance copy paper 600 encumbrance outstanding 600 10/12/2019 Expenditures Copy paper 600 Accounts payable 600 10/31/2020 Accounts payable 600 Cash 600
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2. On July 16, 2019, after receiving the property tax revenue for the second half of 2019, the city transferred $8,700 to the debt service fund for the payment of the next six months payments on the debt. On July 31, 2019 they made the July payment of $1,200 principal and $250 interest. 7/16/2019 Fund balance unrestricted 8700 trans out 8700 Fund balance committed 8700 cash 8700 7/31/2019 General Fund Transfer out service 1450 cash 8700 Cash 1450 trans in 8700 tran Debt Service Cash 1450 exp prin 1200 Transfer in GF
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Unformatted text preview: 1450 exp int 250 cash 1450 Expenditures principal 1200 Expenditures interest 250 Cash 1450 3. On March 9, 2019 the city transferred $1,065 of unrestricted funds to the capital projects fund for road maintenance for 2019. On May 12, 2019, they contracted with L&L Construction to repave three streets at a cost of $712. On July 7, 2017, they received a bill for the repaving which they paid on July 17, 2019 General fund 3/9/2019 Fund balance committed 1065 FB unrestricted 1065 Transferred out Capital Project 1065 Cash 1065 Capital Projects Fund 3/9/2019 Cash 1065 Transferred in GF 1065 5/12/2019 Encumbrance road maintenance 712 encumbrance outstanding 712 7/7/2019 Expenditure road maintenance 712 Cash 712 7/17/2019 A/p 712 cash 712 Enc o/s 712 enc road rep 712...
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