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Prepare the journal entries necessary to record transactions

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Question: (Billings and collections between an Enterprise Fund and the General Fund) A city used an Enterprise Fund to provide electricity services to the General Fund and its citizens. A total of $50,000 was billed to the General Fund and collected 30 days later. Prepare the journal entries necessary to record these transactions, and label the fund(s) used.

Reference no: EM131703295

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