Part A$.$ Prepare journal entries, in good form, per requirements

below. Clearly indicate what fund in which the entry is recorded.

You need only prepare entries for the City of Rockford

$($Rockford$)$ Funds for all funds affected. Ignore Encumbrance

Accounting. Use $"$No Entry" as your answer if none is required.

The Rockford city manager, at the end of the year, with the

authority from the city charter, decides to put aside $$60,000$

for new computers throughout the administrative

departments.

a$)$ Entry$($ies$)$ in preparation of year$-$end financial

statements.

Rockford's GF has a beginning supplies inventory equal to

$$75,000.$ Rockford uses the Purchases Method and has used

the method appropriately throughout the year. The supplies

inventory count equals $$70,000$ at the end of the year.

a$)$ Entry$($ies$)$ for preparation of year$-$end financial

statements.

Rockford's GF lends $$250,000$ to Rockford's Internal

Service Fund $($loan for a $3$ year period$).$

a$)$ Entry for the loan.

b$)$ Entry$($ies$)$ in preparation of year$-$end financial

statements.

Rockford receives $$500,000$ for a state grant to expand the

children's section of the library for special needs children.

There are no time limits associated with this grant.

Rockford expended $$350,000$ during this year for this

program. Rockford uses the GF for grants.

a$)$ Entry for receipt of grant monies.

b$)$ Entry for monies spent.

c$)$ Entry$($ies$)$ in preparation of year$-$end financial

statements.

Rockford receives notice that the city is awarded a

$$300,000$ grant for a social media awareness program. The

grant monies will be received on a reimbursement basis.

Rockford spends $$180,000$ for this program throughout the

current year. Rockford uses the GF for grants.

a$)$ Entry on date of grant award.

b$)$ Entry for spending made related to social media