Assume that the City of Fort Smith maintains its books and records in a manner that facilitates the preparation of fund financial statements. For each of the following events indicate in which fund(s) of the city the event would be recorded and justify your fund selection.
a. The city collected property taxes levied for the general operations of the city.
b. The city collected property taxes levied to pay principal and interest on bonds issued several years in the past to construct a new fire station.
c. The city collected property taxes levied on a specific area of the city for the purposes of providing more frequent snow removal than is enjoyed by the rest of the city.
d. The city sold bonds to finance the construction of a new city hall.
e. The city sold bonds to finance major renovations at the city-owned electric utility.
f. The city purchased a street sweeping machine.

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The Answer of Assume that the City of Fort Smith maintains its books and records in a manner that facilitates the preparation of fund financial statements. For each of the following events indicate in which fund(s) of the city the event would be recorded and justify your fund selection.
a. The city collected property taxes levied for the general operations of the city.
b. The city collected property taxes levied to pay principal and interest on bonds issued several years in the past to construct a new fire station.
c. The city collected property taxes levied on a specific area of the city for the purposes of providing more frequent snow removal than is enjoyed by the rest of the city.
d. The city sold bonds to finance the construction of a new city hall.
e. The city sold bonds to finance major renovations at the city-owned electric utility.
f. The city purchased a street sweeping machine.

Assume That the City of Fort Smith Maintains Its Books