Question: please give explanation for the answer Question: Gotham City issued a purchase order for supplies with an estimated cost of $5,000. When the supplies were

please give explanation for the answer
please give explanation for the answer Question: Gotham City issued a purchase

Question: Gotham City issued a purchase order for supplies with an estimated cost of $5,000. When the supplies were received, the accompanying invoice indicated an actual price of $4,950. What amount should Gotham debitor credit to the budgetary fund balance account after the supplies and invoice were received? A $50 Credit B. $50 Debit C. $4.950 Debit D. 55.000 Debit

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!