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School: Colorado State University, Global Campus - Course: ACT 555 - Subject: Accounting

The $1,000,000 transfer was made from the General Fund to the Building Capital Projects Fund. DebitCredit General Fund$1,000,000.00 Capital Project Fund$1,000,000.00 The City signed a contract with Fixit All Construction for a major part of the project on a bid of $3,700,000 No entry because the contract is not signed. DebitCredit Tall Mountain Engineering Company$88,000.00 Accounts Payable$88,000.00 A payable of $23,5000 was recorded for a billing from the Water and Sewer enterprise fund for the cost of extendi DebitCredit Water and Sewer Enterprise$23,500.00 Accounts Payable$23,500.00 An invoice in the amount of $1,400,000 was received from Fixit All Construction for progress on the project. DebitCredit Accounts Receivable$1,400,000.00 Project Income$1,400,000.00 The $4,000,000 bond issue was issued at par DebitCredit Bonds Payable$4,000,000.00 Cash$4,000,000.00 The invoice from Fixit All Construction was paid, less a 10% retainage. DebitCredit Cash$3,330,000.00 Retainage$370,000.00 Accounts Receivable$3,700,000.00Preliminary planning and engineering costs of $88,000 were vouchered for Tall Mountain Engineering Company. water pipes to the new building. his cost had not been encumbered.