9. For each of the following transactions relating to the startup of a community pool, determine the fund(s) being affected and prepare the appropriate journal entry for each. Be sure to note the fund type with each journal entry prepared. General obligation bonds are issued at face value of $500,000 to construct a new community pool. Cash of $100,000 is received from a state grant. Grant is set up to support the construction of the community pool. . 1. . 2. . 3. A community fund-raiser by a citizens' group raises $50,000 which is donated to the pool fund, with the restriction placed on it that only earnings are to be used for lifeguard wages, and the principal may not be used until such time as the pool ceases to operate, at which time the principal will revert to the general fund. . 4. Construction is completed and the contractors invoices received, totaling $578,000. The invoices are paid within 60 days. . 5. The balance of funds from the general obligation bonds and state grant that was not used is transferred to the General Fund.

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