Where do you get the 6% for $300, 000 Exercise 5-25 (Static) Multiple-Project Fund Transactions [LO 5-2,5-4,5-5]During FY 2023, the voters of Surprise County approved construction of a $21 million police facility and an $11 million fire station toaccommodate the county's population growth. The construction will be financed by tax-supported bonds in the amount of $30 million,a $1 million economic stimulus grant, and a portion of future use tax revenues. During 2023, the following events and transactionsoccurredRequireda. Prepare journal entries to record the the following transactions in a single Surprise County Construction Fund, in a capital projectsfund, and in the governmental activities general journal at the government-wide level. (If no entry is required for atransaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in whole dollar amounts andnot in millions.)Fund/ GovernmentalTransactionGeneral JournalDebitCreditActivites1. Issued $100,000 of 3 percent bond anticipation notes to cover preliminary planning and engpering expenses. Assu this note will be repaid when the ibond is issued and thus can be considered long-termConstruction FundGovernmental Activities< PrevCheck my work22 of 23Next >

Journal entry records the accounting transactions of a business in a journal book. All the business…

During FY 2023, the voters of Surprise County approved construction of a $21 million police facility and an $11 million fire station to accommodate the county's population growth. The construction will be financed by tax-supported bonds in the amount of $30 million, a $1 million economic stimulus grant, and a portion of future use tax revenues. During 2023, the following events and transactions occurred

During FY 2023, the voters of Surprise County approved construction of a $21 million police facility and an $11 million fire station to accommodate the county's population growth. The construction will be financed by tax-supported bonds in the amount of $30 million, a $1 million economic stimulus grant, and a portion of future use tax revenues. During 2023, the following events and transactions occurred

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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