Listed Below Are Selected Transactions for the Maury County Internal $\underline{\text{ Transactions: }}$

question 12

Essay

Listed below are selected transactions for the Maury County Internal Service Fund.
$\underline{\text{ Transactions: }}$
1. Purchased a building on January 2, 20X2, by paying $100,000 down and borrowing $350,000 on a 6%, 10-year mortgage. Assume semi-annual mortgage payments are due each June 30 and December 31, beginning this year. The building will be depreciated over 20 years with no salvage value using the straight-line method.
2. Purchased supplies on account, $58,000. The fund uses the perpetual inventory method when accounting for supplies.
3. Paid employee salaries, $120,000. Accrued salaries at year end were $13,000. Accrued salaries at the beginning of the year were $9,000.
4. Billed General Fund departments $400,000 for services provided to those departments. Billings to the Enterprise Fund totaled $30,000. 90% of these billings were collected by year end. The remaining 10% is not expected to be collected from the other funds until the second quarter of the next fiscal year.
5. The first semi-annual mortgage payment of $23,500 was made.
6. Paid $50,000 on account.
7. Supplies on hand at year end have a cost of $4,000. The beginning of the year inventory was $6,000.
8. The second semi-annual mortgage payment of $23,500 was made.
9. Record depreciation on the building for the year.

$\underline{\text{Requirements: }}$
1. Prepare the journal entries required in the Internal Service Fund. If no entry is required, state "No entry required" and explain why.
2. Indicate the effects of each transaction on the accounting equation of the Internal Service Fund accounts. If an element of the equation is not affected or if the net effect is zero, put "NE" in the appropriate box. Do not leave any boxes blank.

Understand the concepts and functionality of short-term memory.

Comprehend the effects of amnesia on memory, with emphasis on real-life cases.

Learn about the concept of working memory and its significance in memory processes.

Recognize the existence of sensory memories across different sensory modalities.

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Definitions:

Magma

Molten rock beneath the Earth's surface which can form igneous rocks upon cooling.

Groundwater

Water that is stored underground in soil or between rocks, supplying wells and springs, and playing a crucial role in the hydrological cycle.

Landslide

A mass movement of rock, earth, or debris down a slope due to gravity.

Pressure

The force exerted by something against a surface, usually measured in units such as Pascal (Pa) or pounds per square inch (psi).