The Beacon Community Service Center, a nonprofit organization, uses fund accounting. The center
is experiencing a short-term cash-flow problem and needs to borrow $60,000 to meet its payroll. The
Center has $1,900,000 in its building fund. The Center’s finance officer assures the executive
director that they can borrow the money from the building fund to meet its operating needs as long
as it is paid back. How would you record this transaction from the perspectives of the operating fund
and the building fund respectively?
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