Part Two: Please show the journal entries with debits and credits that would be made for each
of the following transactions in a City's General Fund for these questions, assume the fiscal
year runs from January through December : of points
On January a city received delivery of a police car and an invoice for payment of
$ due within days.
On January the city paid that invoice in full.
On December the city received delivery of another police car and an invoice for
payment of $ due within days.
On February the city levied $ in property taxes for FY Taxes are
due by April The city believes all taxes will be collected; no uncollectible
allowance is needed.
At December the city had collected $ of the property taxes levied
above. $ is still unpaid as of that date but is believed to be fully
collectible. However, based on past experience, the city estimates that $ will becollected more than sixty days beyond the end of the fiscal year.
On December the city paid $ in principal and $ in interest on a long.term bond on the day it was due
