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Home Q & A Board Other Fields Homework Help Business Accounting
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derro derro
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5 years ago
Listed below are selected transactions for the Rhea County Garbage Service, which is accounted for in an Enterprise Fund. All amounts are in thousands of dollars.

Transactions:

1.   Services of $5,000 were provided and billed to outside customers.
2.   Services of $750 were provided and billed to the General Fund.
3.   $750 was collected from other funds, and $4,000 was collected on account.
4.   $20 of accounts receivable were written off as uncollectible.
5.   Estimated bad debts for the year were $100.

Requirements:

1.   Prepare the journal entries required in the Enterprise Fund. If no entry is required, state “No entry required” and explain why.
2.   Compute the amount of sales revenues that should be reported for the Enterprise Fund.

Textbook 
Governmental and Nonprofit Accounting

Governmental and Nonprofit Accounting


Edition: 11th
Authors:
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bolbolbolbol
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5 years ago
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derro Author
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5 years ago
Thanks
derya1234
wrote...

Yesterday
Good timing, thanks!
jakechambo3
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2 hours ago
Thank you, thank you, thank you!
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