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    Question: The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020: Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories,
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    Prepare journal entries, as appropriate, to record these transactions (We suggest you post the journal entries to general ledger T-accounts ) Note: The Croton City continuing problem is introduced in Chapter 3 on page 3-32 You should review the scenario in Chapter 3 before preparing the journal entries for the General Fund in this chapter Public safety $6,700 Public works 4700 Parks 2,200
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    Question: Problem 17-02 On January 1, 2020, Novotna Company purchased $400,000, 8% bonds of Aguirre Co for $369,114 The bonds were purchased to yield 10% interest Interest is payable semiannually on July 1 and January 1 The bonds mature on January 1, 2025 Novotna Company uses the effective-interest method to amortize discount or premium On January 1, 2022,




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