St. Charles Township had the following transactions and events, among others, during the fiscal year ended June 30, 2006 (the township uses account groups):
(1) On June 30, 2006, the township paid the first serial maturity of $80,000 on 6% general obligation bonds that had been issued at face amount of $400,000 on June 30, 2005, to mature serially June 30, 2006 through 2010. Accrued interest on the bonds also was paid on June 30, 2006. There was no fiscal agent.
(2) Special Revenue Fund expenditures on July 26, 2005, included $11,100 applicable to purchase orders of $10,900 issued in the fiscal year ended June 30, 2005. The township uses encumbrance accounting.
(3) On June 28, 2006, the State Revenue Department informed St. Charles Township that its share of a state-collected, locally shared tax was $340,000.
Prepare journal entries for the foregoing transactions and events of St. Charles Township for the year ended June 30, 2006. Omit explanations, but identify by initials the fund or account group (GF, DSF, GCAAG, etc.) in which each journal entry is recorded.

Question

Quizplus · Accepted Answer

The Answer of St. Charles Township had the following transactions and events, among others, during the fiscal year ended June 30, 2006 (the township uses account groups):
(1) On June 30, 2006, the township paid the first serial maturity of $80,000 on 6% general obligation bonds that had been issued at face amount of $400,000 on June 30, 2005, to mature serially June 30, 2006 through 2010. Accrued interest on the bonds also was paid on June 30, 2006. There was no fiscal agent.
(2) Special Revenue Fund expenditures on July 26, 2005, included $11,100 applicable to purchase orders of $10,900 issued in the fiscal year ended June 30, 2005. The township uses encumbrance accounting.
(3) On June 28, 2006, the State Revenue Department informed St. Charles Township that its share of a state-collected, locally shared tax was $340,000.
Prepare journal entries for the foregoing transactions and events of St. Charles Township for the year ended June 30, 2006. Omit explanations, but identify by initials the fund or account group (GF, DSF, GCAAG, etc.) in which each journal entry is recorded.

St Charles Township Had the Following Transactions and Events, Among