Prepare the general journal entries to record the following transactions of the Quinones County General Fund:

Prepare the general journal entries to record the following transactions of the Quinones County General Fund:1. Quinones County borrowed $1,000,000 by issuing 6-month tax anticipation notes bearing interest at 6%. Thenotes are to be repaid from property tax collections during the fiscal year.2. The county repaid the tax anticipation notes, along with $30,000 interest, at the due date.3. The county ordered a new patrol car for the Sheriff’s Department. The purchase order was for $35,000.4. The county received the new patrol car two months before the end of the fiscal year. Its actual cost was$35,000.The county paid $5,000 upon receipt and signed a 9% short-term note payable for the balance.5. The county services one of its general obligation serial bond issues directly from the General Fund, that is, aDebt Service Fund is not used. The annual principal and interest payment, which is due two months beforeyear end, was paid. The principal payment was $200,000 and the interest was $120,000. (Next year’s interestpayment will be $108,000.)6. Record all appropriate interest accruals

Serial No. General JournalParticulars1 CashNotes Payable Amount $Amount $1,000,0001,000,000 2 Notes PayableInterestCash3 No Entry 1,000,00030,0001,030,000NilNil 4 Patrol CarCashNotes…

Show more

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more