General Fund Expenditures

BPA/311 v2

Exercise 6-3 Template

BPA/311 v2

Page 2 of 2

Exercise 6-3 Template

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Accounts

Dr. (Debit)

Cr. (Credit)

1. Expenditures—Operating—Salaries Enter amount

Cash Enter amount

Salaries Payable Enter amount

To record payroll.

2. Expenditures—Debt Service—Principal Enter amount

Expenditures—Debt Service—Interest Enter amount

Cash Enter amount

Defaulted Note Payable Enter amount

To record maturity of note and payment of interest.

The note is now recorded in the fund, even though not

paid, because it has matured.

3. Expenditures—Capital Outlay Enter amount

Cash Enter amount

Vouchers Payable Enter amount

To record purchase of computers.

4. Expenditures—Operating—Materials and Supplies Enter amount

Cash Enter amount

To record purchase of materials and supplies.

5. Expenditures—Operating—Utilities Enter amount

Cash Enter amount

Due to Enterprise Fund Enter amount

To record water and sewer expenditures.

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Accounts

Dr. (Debit)

Cr. (Credit)

6. Encumbrances Enter amount

Encumbrances Outstanding Enter amount

To record order of materials. (Budgetary entry)

7. Expenditures—Operating—Pension Contribution Enter amount

Cash Enter amount

To record annual pension contribution.

8. Expenditures—Operating—Wages Enter amount

Due to Capital Projects Fund Enter amount

To record reimbursement due to CPF.

9. Note Payable Enter amount

Expenditures—Debt Service—Interest Enter amount

Cash Enter amount

To record retirement of note plus interest.

10. Transfer to Enterprise Fund Enter amount

Cash Enter amount

To record transfer out.

Copyright 2020 by University of Phoenix. All rights reserved.

Copyright 2020 by University of Phoenix. All rights reserved.