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Journalize the Following Utility Transactions in the Quest County Enterprise

question 48

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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:

Same Culture

The shared beliefs, practices, norms, and values among members of the same community or society.

Same Values

The shared principles or standards of behavior considered important within a group, organization, or culture.

Low Power Distance

A societal or organizational value emphasizing minimal hierarchy, encouraging equality and collaborative decision-making.

Orders Without Question

The act of executing directives without seeking clarification or expressing dissent.

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