Answer Happy

8. [Para. 5-a-8] On December 10, 2023 the Elm Street project was completed and the contractor for the project requested a final payment of $1,650,000. This amount was recorded as a liability. Payment was made, less the retained percentage, on December 15, 2023. Required: Record these transactions in both the Street Improvement Fund and governmental activities journals. Because the project is completed, all encumbrances for the project should be closed.
2023 101 х 2080 - Contracts Payable 5-a-8 1,650,000 2023 101 х 1010-Cash 5-a-8 1,567,500 2023 101 Х 2090 - Contracts Payable - Retained Percentage 5-a-8 82,500 2023 101 х 2520 - Encumbrances Outstanding-Elm Street Project 5-a-8 1.650.000 stwu wrons 2023 101 Х 7110 - Encumbrances-Elm Street Project Conectad 5-a-8 1.650.000 til wirom Cemien 2023 101 Х 7120 - Encumbrarices-Spruce Street Project 5-a-9 190,000 2023 101 Х 2530 - Encumbrances Outstanding-Spruce Street Project 5-a-9 190,000 2023 101 Х 2090 - Contracts Payable - Retained Percentage 5-a-10 162,500 2023 101 Х 1010 - Cash 5-a-10 162,500 2023 101 X 4010 - Revenues-Sales Taxes Closing Entry 361,000 2023 101 Х 4030 - Other Financing Sources-Proceeds of Bonds Closing Entry 3,000,000 2023 101 х 6130 - Construction Expenditures-Elm Street Project Closing Entry 3,360,000 2023 101 Х 2510 - Fund Balance-Restricted Closing Entry 1,000 5.o_8 still missing 2 Accounts and 2 2 Amounts