4-11. a TOWN OF BENTON ALEX BENTON PARK ENDOWMENT FUND GENERAL JOURNAL FOR YEAR ENDED JUNE 30, 2014 Debits Credits 1. DECEMBER 31, 2013: CASH 500,000 REVENUES—CONTRIBUTIONS FOR FOR ENDOWMENT 500,000 2. DECEMBER 31, 2013: INVESTMENT IN BONDS 406,300 ACCRUED INTEREST RECEIVABLE 6,000 CERTIFICATE OF DEPOSIT 70,000 CASH 482,300 3. MARCH 31, 2014: CASH 700 REVENUES—INVESTMENT EARNINGS 700 OTHER FINANCING USES—INTERFUND TRANSFERS OUT 700 CASH 700 4. APRIL 1, 2014: CASH 12,000 ACCRUED INTEREST RECEIVABLE 6,000 REVENUES—INVESTMENT EARNINGS 6,000 OTHER FINANCING USES—INTERFUND TRANSFERS OUT 6,000 CASH 6,000 Debits Credits 5. JUNE 30, 2014: CASH 700 REVENUES—INVESTMENT EARNINGS 700 OTHER FINANCING USES—INTERFUND TRANSFERS OUT 700 CASH 700

6. JUNE 30, 2014: INVESTMENT IN BONDS 3,300 REVENUES—CHANGE IN FAIR VALUE OF INVESTMENTS 3,300 [$409,600 - $406,300] = $3,300 (NOTE: Change in fair value not included in earnings for transfer purposes. Rather it adds to the principal of the endowment) ADJUSTING ENTRIES: ACCRUED INTEREST RECEIVABLE 6,000 REVENUES—INVESTMENT EARNINGS 6,000 ($400,000 x .06 x 3/12) OTHER FINANCING USES—INTERFUND TRANSFERS OUT 6,000 DUE TO PARK MAINTENANCE