Carver Township issued a 2-year, 6 percent note in the amount of $100,000 to finance the purchase
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Required
1. Record the issuance of the $100,000 note in the General Fund and the governmental activities general journals.
2. Record the purchase of vehicles in the amount of $100,000 in the General Fund and governmental activities general journals.
3. Explain why the accounting treatment is different in the General Fund and governmental activities general journals.
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Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-0078110931
16th Edition
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
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