Bill for december 2017 was received on january 4 2018

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bill for December 2017 was received on January 4, 2018 in the amount of $620. (Utility bills are recorded through accounts payable.) 10. On December 21, the company placed an order for a new computerized control switch in the amount of $1,500 to be delivered and paid in January 2018. 10. On December 21, the company placed an order for a new computerized control switch in the amount of $1,500 to be delivered and paid in January 2018. Required: You have been asked to provide financial statements for the upcoming County Board meeting for the Television Reception Improvement Fund. Part 1: Assume the County chooses to report the Television Reception Improvement Fund as a special revenue fund following modified accrual basis
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statements. Using the Excel template provided, a. Prepare journal entries recording the events above for the year ending December 31, 2017. b. Post the journal entries to T-accounts. c. Prepare closing entries. d. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance. e. Prepare a Balance Sheet, assuming there are no restricted or committed fund net resources. Part 2: Assume the County
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