Journalize the Following Utility Transactions in the Hazzard County Enterprise

question 8

Essay

Journalize the following utility transactions in the Hazzard County Enterprise Fund:
1.The utility sold $4,000,000 of 6.5% revenue bonds at 98 on July 1,2011 (an interest payment date).The bond proceeds are to be used for new plant construction and the issue will mature in 20 years.Interest is paid semi-annually on July 1 and January 1.
2.Depreciation for the year-ended December 31,2011 included $300,000 for buildings and $190,000 for equipment.
3.The utility paid $600,000 in construction costs for the new plant.
The plant is still under construction.
4.Interest on the revenue bonds was accrued at year-end,December 31,2011.Straight-line amortization is used for bond discounts and premiums.

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Definitions:

Sodium Ions

Positively charged atoms of sodium that play critical roles in physiological processes, including nerve impulse conduction and muscle contraction.

Potassium Ions

Positively charged ions (K+) vital for various physiological processes, including nerve signal transmission and muscle contraction.

Neuromodulators

Substances released by neurons in the nervous system that influence the strength or weakness of the signal being transmitted, altering the activity of other neurons or muscles.

Synaptic Transmission

The process by which nerve impulses are transmitted across a synapse from one neuron to another.