Listed Below Are Selected Transactions for the Rhea County Garbage $\underline{\text{ Transactions: }}$

question 33

Essay

Listed below are selected transactions for the Rhea County Garbage Service, which is accounted for in an Enterprise Fund. All amounts are in thousands of dollars.
$\underline{\text{ Transactions: }}$
1. Services of $5,000 were provided and billed to outside customers.
2. Services of $750 were provided and billed to the General Fund.
3. $750 was collected from other funds, and $4,000 was collected on account.
4. $20 of accounts receivable were written off as uncollectible.
5. Estimated bad debts for the year were $100.
$\underline{\text{Requirements: }}$
1. Prepare the journal entries required in the Enterprise Fund. If no entry is required, state "No entry required" and explain why.
2. Compute the amount of sales revenues that should be reported for the Enterprise Fund.

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Definitions:

Checking Account

A bank account that allows for numerous withdrawals and deposits, intended primarily for daily transactions.

Check Register

A record book used to track checks written, deposits made, and the current balance of a checking account.

Endorser

Signature on the back of the check of the payee.

Endorsement

An act of giving one's public approval or support to someone or something, often used in contexts of advertisements or political backing.