Journalize the Following Municipal Zoo Transactions in the Lackluster County

question 21

Essay

Journalize the following municipal zoo transactions in the Lackluster County Enterprise Fund:
1.The zoo issued $1,000,000 of 5% revenue bonds at 99 on July 1,2014 (an interest payment date).The bond proceeds are to be used for a new polar bear exhibit and the issue will mature in 20 years.Interest is paid on January 1 and July 1.
2.Depreciation for the year-ended December 31,2014 included $175,000 for buildings and $105,000 for outdoor exhibit areas.
3.The zoo paid $800,000 in construction costs for the new exhibit.The exhibit is still under construction.
4.Interest on the revenue bonds was accrued at year-end,December 31,2014.Straight-line amortization is used for bond discounts and premiums.

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Definitions:

Public Rituals

Public rituals are ceremonial acts or events conducted in public spaces, often for cultural, religious, or social purposes, involving community participation.

Resistance Movement

Groups or organizations that resist or fight against an occupying force or oppressive government, often using guerrilla tactics.

Dominant Elite

A small group of powerful people who hold a disproportionate amount of wealth, privilege, political power, or skill in a society.

Committees of Correspondence

Groups formed in the American colonies in the 18th century to foster communication about resistance to British policies.