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Question - The following inter-fund transactions occurred in ULUS City between General Fund and Enterprise Fund. Journalize these transactions in both funds.
1. General fund collected $200,000 from property tax receivable, 30% of this amount is transferred to the Enterprise fund.
2. General fund paid $3,000 as legal fees, 500 of them for Enterprise fund. It now bills the Enterprise fund for that fund's share of service.
3. General fund lent $10,000 as long term loan to the Enterprise fund.
4. General fund paid $5,000 cash for five copy machines. It discovers that $1,000 of that amount is for Enterprise fund. General fund required reimbursement.
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