Question: transactions related to the City Utility Fund. Prepare the appropriate journal entries. If none is required, write No Entry Required. a) The City billed

transactions related to the City Utility Fund. Prepare the appropriate journal entries.

If none is required, write "No Entry Required." a) The City billed

transactions related to the City Utility Fund. Prepare the appropriate journal entries. If none is required, write "No Entry Required." a) The City billed its customers Sl million for services provided during the year. b) The City received $260,000 from a developer to connect new houses to the existing utility lines. c) Depreciation on existing physical plant was S700,000. d) Revenue bonds in the amount of $2 million were issued at par to finance new construction. The bond agreement requires that the City retain $200,000 of the bond proceeds for purposes of servicing the debt if revenues are not sufficient to do so.

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