Journalize the Following Utility Transactions in the Quest County Enterprise

question 48

Essay

Journalize the following utility transactions in the Quest County Enterprise Fund:
1.Billings to external customers $1,600,000; billings to Quest County governmental funds $130,000.
2.Collected refundable deposits from new customers $10,000.
3.Collected 95% of all billings by fiscal year-end.
4.Refunded $4,000 in deposits to former customers.
5.Unbilled services to outside customers at year-end $14,000.

---

Definitions:

Antigens

Substances that are recognized by the immune system and provoke an immune response, often seen in pathogens like viruses and bacteria.

Antibodies

Proteins made by the immune system to identify and neutralize foreign objects like bacteria and viruses.

Insulin

An insulin-producing pancreatic hormone that manages glucose levels in the blood by assisting its absorption into bodily tissues.

Calories

A unit of energy used to quantify the amount of energy provided by foods and beverages.