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  3. 2. the following are transactions for the city of

2. the following are transactions for the city of Clinton a. Borrowed $100,000 by issuing...

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Accounting

2. the following are transactions for the city of Clinton

a. Borrowed $100,000 by issuing a one year, 5% note, three months before year end

b Accrued interest at year end, but did not pay the interest at year end

c. Charges for services rendered of $2,500 were billed and collected immediately

d. Icurred salary costs of $5,000, unpaid

Required:

Analyze the above transactions by using the accounting equation for a governmental fund

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