Question: In early 2017, design plans and specifications for the first project, the Elm Street Project, were submitted by a construction engineering firm. The firm billed

In early 2017, design plans and specifications for the first project, the Elm Street Project, were submitted by a construction engineering firm. The firm billed the Street Improvement Fund for $125,000. Required: Record this billing and the related Vouchers Payable liability in the Street Improvement Fund and governmental activities journals. (Note: this transaction was not encumbered.) Prepare a journal entry.

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