Question: Use the information in problem (40) to prepare the 2015 fund financial statements for the governmental funds and the proprietary funds. A statement of cash

Use the information in problem (40) to prepare the 2015 fund for the governmental funds and the proprietary funds. A statement of cash flows is not required. Assume that “available” is defined as within 60 days and that all funds are major. The general fund is used for debt repayment. Assume that major funds are labeled as “Special Revenue Fund” and “Capital Projects Fund.”

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One way to accumulate the information for the fund financial statements is to prepare journal entries for the listed transactions a General Fund Other Financing UsesTransfer 70000 Cash 70000 Capital P... View full answer

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