Prepare entries to record the following events and transactions for Riyadh Region Township for the year 2022.
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Question:
Prepare entries to record the following events and transactions for Riyadh Region Township for the year 2022.
a. The Township adopted a budget calling for appropriations of $ 720,000. The estimated revenues (all property taxes) were $ 680,000.
b. The Township sent property tax bills amounting to $ 680,000 to property owners.
c. Property owners paid $ 670,000 of property taxes to the Township.
d. A purchase order of $ 50,000 was sent to a vendor of supplies.
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
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