The Village o Peaks Kill acquired a computer for $300,000. The computer was financed through a bond
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Question:
The Village o Peak’s Kill acquired a computer for $300,000. The computer was financed through a bond issue. Prepare the journal entries necessary to record these events, assuming the computer was acquired using (a) the General Fund and (b) an Enterprise Fund. Also, label the Fund (s) used.
Expert Answer:
Date Account title and explanation Debit Credit Fund balance reserved for encumbrances 300000 Encumb... View the full answer
Related Book For 
Introduction to Governmental and Not for Profit Accounting
ISBN: 978-0132776011
7th edition
Authors: Martin Ives, Terry K. Patton, Suesan R. Patton
Posted Date:
