Journal entries for an enterprise fund fiscal year ended june 30, 2008

urnal entries for an enterprise fund fiscal year ended june 30, 2008 1.The general fund made a permanent contribution of $2 million for working capital to start a municipal airport. the city used part of that money, together with the proceeds from $25 mil revenue bond issue , to purchase an airport from a private company. The fair values of the assets and liab were as follows: acct rec 8,000, land 19 mil, build 5 mil, equip 1.8 mil, and acct pay (12,000). The city purchased the airport for the fair market value of its net assets. 2.Airlines were billed 3.9mil for rental rights. Of this amount, 3,890,000 is expected to be collectible. 3.supplies totaling 4,500 were purchase on credit 4.collections from airlines totaled 3,850,000 5. salaries of 200,000 were paid to airport personnel employed by the city 6.utility bills totaling 100,000 were paid 7. interest of 1,825,000 was paid to the bondholders 8. the airport purchase additional equipment for 300,000 cash 9.interest expense of 350,000 was accrued at the end of the year 10. other accrued expenses totaled 55,000 11. paid 12,500 of acct pay 12. received 150,000 of interest revenue These are the accounts that I have to work with: Cash Accounts receivable Allowance for uncollectible accounts Investments Supplies Land Buildings Accumulated depreciation?buildings Equipment Accumulated depreciation?equipment Accounts payable Accrued interest payable Accrued operating expenses Advance from General Fund Revenue bonds payable Transfers in from General Fund?capital contribution Airline rental revenue Interest revenue Salaries expense Supplies expense Utilities expense Interest expense Bad debts expense Depreciation expense--buildings Depreciation expense--equipment Other operating expenses How would you journalize these entries for an enterprise fund?

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