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.

$1.$ 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.

$2.$ 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.

$3.$ 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.

$4.$ Rockford receives S$500,000$ 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.

$5.$ 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 awareness program.

c$)$ Entry for the $$180,000$ allowable expenditures submitted to the Federal Government for reimbursement.

d$)$ Entry$($ies$)$ in preparation of year$-$end financial statements.