Business, 23.03.2021 03:00 lalaokawami0912

The City of Cowling decides to construct a new library, which it estimates will cost $8.5 million. The City will finance the library with a state construction grant of $3 million; a general obligation bond issuance of $5 million; and a transfer from the General Fund of $500,000. Prepare journal entries to record the following transactions in the Capital Projects Fund. No budgetary entries other than encumbrances should be recorded.

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The City of Cowling decides to construct a new library, which it estimates will cost $8.5 million. T...

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