Q2.
Journal Entry for the General Fund
Account
Debit
Cash
Appropriated Funds
Credit
$160,000
$160,000
(Funds retained for a specific purpose)
Q4.
Journal Entry for the Enterprise Fund
Account
Assets
Building
Land
Debit
Credit
$300,000
$200,000
$500,000
Building and Land
( Paid $500,000 for land and buildings)
Q6.
Journal Entry for General Fund
Account
Current liabilities
Taxes collected
Debit
Credit
$170,000
$170,000
(Amount paid for taxes)
Q8
Journal Entry for the Enterprise Fund
Account
Liabilities
Interest payable
Interest Paid
Debit
Credit
$30,000
$30,000
(Amount paid for the interest)
Q12.
Journal Entry for Debit Service Fund
Account
Liabilities
Installment Loan Payment
Debit
Credit
$200,000
$200,000
(Amount is paid in installment)
Q14. Journal Entry for Debit Service Fund
Account
Interest receivable
Interest Received
Debit
Credit
$45,000
$45,000
(Interest received)