Journal entries, general long-term debt. The following transactions directly affected Rose City’s general fund and other governmental funds. Prepare journal entries to reflect their impact upon the general long-term debt account group.
1. Rose City employees earned $8.8 million in vacation pay during the year, of which they took only $6.6 million. They may take the balance in the following three years.
2. The employees took $0.4 million of vacation pay that they had earned in previous years.
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