Question: Record the following transactions in the General Fund general ledger accounts. (Analyze the effects of the transactions on all other funds and nonfund accounts.) 1.

Record the following transactions in the General Fund general ledger accounts. (Analyze the effects of the transactions on all other funds and nonfund accounts.)
1. Martinsville ordered supplies for its General Fund departments at an estimated cost of $300,000.
2. Martinsville ordered equipment for its General Fund departments at an estimated cost of $490,250.
3. Martinsville received half the supplies ordered. The actual cost of $151,000 was paid.
4. Martinsville received the equipment it had ordered. The actual cost was $490,250.

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