Question: Need help on this by 9pm CST time tonight. During 20X8, the following transfers and transactions between funds took place in the City of Matthew.

 Need help on this by 9pm CST time tonight. During 20X8,the following transfers and transactions between funds took place in the City

Need help on this by 9pm CST time tonight.

During 20X8, the following transfers and transactions between funds took place in the City of Matthew. 1. On March 1, a $14,000 transfer was made from the general fund to establish a building maintenance internal service fund. Matthew uses transfer accounts for this type of transfer. 2. On April 1, the general fund made an $8,300, six-month loan to the building maintenance service fund. 3. On April 15, $2,410 was transferred from the general fund to the debt service fund to pay interest. 4. On May 5, Matthew's transportation service fund billed the general fund $845 for April services. Required: a. Prepare journal entries and appropriate closing entries for the general fund involved that should be recorded at the time of each transfer or transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is not complete. No Date Credit General Journal Other financing uses - transfer out to building maintenance fund Debit 14,000 Mar 01 Cash 14,000 Jun 30 14,000 Fund balance - unassigned Other financing uses - transfer out to building maintenance fund 14,000 Apr 01 8,300 Due from building maintenance fund Cash 8,300 Jun 30 Other financing uses - transfer out to debt service fund X 8,300 Cash 8,300 Apr 15 2,410 Fund balance - unassigned Other financing uses - transfer out to debt service fund 2,410 Jun 30 Other financing sources - transfer in from general fund Other financing uses - transfer out to debt service fund 2.410 2,410 May 05 Expenditures 845 Due to transportation service fund 845 May 05 Due to transportation service fund 845 845 Jun 30 845 Fund balance - unassigned Expenditures 845 b. Prepare journal entries and appropriate closing entries for the other fund involved that should be recorded at the time of each transfer or transaction. (Select the appropriate fund for each situation. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) * Answer is not complete. Transaction Fund General Journal Debit Credit 1. On March 1, a $14,000 transfer was made from the general fund to establish a building maintenance internal service fund. Matthew uses transfer accounts for this type of transfer. Building Maintenance Internal Service Fund Record the transfer from the General Fund to the Building Maintenance Fund. Cash 14,000 14,000 Record the closing entry for the transfer from the General Fund to the Building Maintenance Fund. 14,000 14.000 2. On April 1, the general fund made an $8,300, six-month loan to the building maintenance service fund, Building Maintenance Fund Record the loan from the General Fund to the Building Maintenance Service Fund 8,300 8,300 3. On April 15, $2,410 was transferred from the general fund to the debt service fund to pay interest. Debt Service Fund Record the transfer from the General Fund to the Debt Service Fund 2,410 2,410 Record the closing entry for transfer from the General Fund to the Debt Service Fund. 2,410 2,410 4. On May 5, Matthew's transportation service fund billed the general fund $845 for April services. Transportation Service Fund Record the transportation services. 845 845 Record the receipt of transportation services. 845 845 Record the entry to close the nominal account. 845 845

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