Carver Township issued a 2-year, 6 percent note in the amount of $100,000 to finance the purchase of vehicles for the Police Department. Required 1. Record the issuance of the $100,000 note in the General Fund and the governmental activities
Carver Township issued a 2-year, 6 percent note in the amount of $100,000 to finance the purchase of vehicles for the Police Department.
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.
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
Posted Date: January 11, 2014 09:26:58
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