All numbers are in millions.

1. A new school district receives $4.0 in property tax revenue
2. The school issues $2.0 in proceeds from the sale of bonds designated for general funding.
3. The School transfers $1.0 to the debt service fund to be used to pay on the bonds
4. The money in the debt service fund earned $.1 interest
5. The school purchased 100 desks for classrooms at a total cost of $.2
6. The school issued a special property tax levy of $1.0 which it has not received yet
7. The school purchased 50 computers at a cost of $.3 but has not yet paid for them.

.Prepare journal entries in the general fund to record each of the transactions or other events.

create a Balance Sheet, and a Statement of Revenue Expenses and Other Charges.

Answer rating: 100% (QA)

Here are the journal entries for each transaction or event in the general fund 1 Receiving Property ... View the full answer