Business, 19.02.2021 05:30 jadeandryna0609

Prepare journal entries in the capital projects fund general journal and the governmental activities general journal for the following scenario: In Fulbright county, the culture and recreation department constructed a library in one of the county’s high-growth areas. The construction was funded by a number of sources. Below is selected information related to the Library Capital Project Fund. All activity related to the library construction occurred within the current fiscal year. The county operates on a calendar-year basis. 1. The county issued $6,000,000 of 4 percent bonds, with interest payable semiannually on January 1 and July 1. The bonds sold for 97 on January 1. Proceeds from the bonds are to be used for the construction of the library.

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Prepare journal entries in the capital projects fund general journal and the governmental activities...

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