Assume that the fiscal year-end for all the transactions below is June 30.

\underline{\text{ Transactions:}}

1. The General Fund paid $12 to a Special Revenue Fund to repay it for General Fund employee salaries that were inadvertently recorded as expenditures in the Special Revenue Fund.
2. The government decided to settle a lawsuit on the advice of its legal counsel. The lawsuit came about because of damage to a citizen's property caused by a garbage service employee. The garbage operation is accounted for in the General Fund. The government settled the suit for $300, paying $100 on June 1, 20X1, and $50 on July 1 for each of the next 4 fiscal years. For these types of lawsuits, the government is self-insured for the first $50 and 100% insured for the remaining payments. Because of a cash flow issue, the government borrowed $200 on a 6 month, 3% note that comes due 2 months after year end. No money was received from the insurance company by year end, but the total amount due was expected by August 15. Prepare all journal entries required through the end of the 20X1 fiscal year.
3. The government's employees earned $25 in compensated absences during the year. Of this amount, $10 was paid during the year and another $8 is due to be paid in the first 45 days of the following fiscal year. In addition, $5 due at the end of last year was paid at the beginning of this year. Finally, $2 earned in earlier years came due and was paid this year.
4. The government contributed $5 to its OPEB Plan trust for the year. The net OPEB liability, none of which was due and payable either at the beginning or at the end of the year, increased $15.

\underline{\text{ Requirement: }}

Prepare the general journal entries using standard fund-type terminology, identifying the fund or nonfund accounts for which the entry is being prepared. Appropriate abbreviations are acceptable (e.g., GF, SRF, CPF, DSF, GCA, GLTL, OFS, OFU). If no entry is required, write "No Entry Required" and briefly explain why. Do

\underline{\text{ not}}

include formal entry explanations or dates, but include any important assumptions made and

\underline{\text{all }}

calculations.

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