спу на tuty is managed by Tara Perkins. Show the journal entries that would be recorded in the general fund for the following transactions that occurred during the fiscal year ended June 30, 2021 and identify the income statement effect of each entry:
спу на tuty is managed by Tara Perkins. Show the journal entries that would be recorded in the general fund for the following transactions that occurred during the fiscal year ended June 30, 2021 and identify the income statement effect of each entry:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Craven City has an electric utility fund that
is managed by Tara Perkins. Show the
journal entries that would be recorded in
the general fund for the following
transactions that occurred during the fiscal
year ended June 30, 2021 and identify the
income statement effect of each entry:
1. The electric utility fund provided electric
services to city departments accounted for
in the general fund. The electric utility fund
bills $100,000 for these services.
2. The general fund pays the amount owed.
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