Chap018-baker 18

Chap018-baker 18 - 328,000 Interest Expense 30,000 Due to...

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Chapter 18 - Governmental Entities: Special Funds and Government-Wide Financial Statements 18-18 E18-8 Enterprise Fund Entries and Statements a. Entries for enterprise fund: 1. Accounts Receivable 420,000 Revenue 420,000 Record charges to customers. Cash 432,000 Accounts Receivable 432,000 Record collections on account. 2. Cash 30,000 Due to General Fund 30,000 Receive loan from general fund. 3. Plant and Equipment 75,000 Contracts Payable 75,000 Record extension of water and gas lines. Contracts Payable 75,000 Cash 75,000 Record payment for extended lines. 4. Inventory of Supplies 12,400 Operating Expenses
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Unformatted text preview: 328,000 Interest Expense 30,000 Due to Central Stores Fund 12,400 Vouchers Payable 328,000 Interest Payable 30,000 Record expenses. Due to Central Stores Fund 12,400 Vouchers Payable 325,000 Interest Payable 30,000 Cash 367,400 Record payment of approved vouchers, interest, and payment to central stores. 5. Revenue 6,300 Allowance for Uncollectibles 6,300 Reduce revenue for uncollectible accounts. Depreciation Expense 32,000 Accumulated Depreciation 32,000 Adjust for depreciation for period. Supplies Expense 15,200 Inventory of Supplies 15,200 Adjust for supplies on hand....
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This note was uploaded on 10/09/2011 for the course ACC 253 taught by Professor Strimling during the Fall '11 term at Harper.

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