Required:For each transaction described below for the current fiscal year of the Town of Golden, use an "x" to indicate the fund(s) in which a journal entry should appear, and whether separate information should be kept for General Long Term Debt or General Fixed Assets.TRANSACTIONDESCRIPTIONGeneralFundCapitalProjectsFundDebtServiceFundInternalServiceFundGeneralLTDebtGeneralFixedAssets1. Term bonds are issued at par to financeconstruction of an arena. 2. A transfer is made to a fund for future bondinterest and principal payments. 3. Expenditures, including for equipment, aremade for routine government operations. 4. One-half the costs budgeted for the arenaare incurred and paid. 5. A transfer is made to establish a printingservices

Question

center.      6. Equipment purchased in a prior year is soldat public auction.      7. A state grant is received to help financethe cost of the arena.      8. Construction of the arena is completed, andthe fund balance is transferred for bond financing.      9. The first year's principal and interestare paid on the civic arena bonds.      10. Printing services are provided for generalgovernment operations.      11. The printing services center purchasesa new printing machine.      

What will be an ideal response?

Answer 1