Multiple Choice
A city received supplies that had been previously encumbered.The supplies were encumbered for $5,000 and had an actual cost of $4,900.To recognize this event the county should make which of the following entries?
A) Debit Reserve for encumbrances $5,000 and Supplies $4,900; credit Encumbrances $5,000 and Vouchers payable $4,900.
B) Debit Encumbrances $5,000 and Supplies $4,900; credit Reserve for encumbrances $5,000 and Vouchers payable $4,900.
C) Debit Reserve for encumbrances $4,900 and Supplies $4,900; credit Encumbrances $4,900 and Vouchers payable $4,900.
D) Debit Encumbrances $4,900 and Supplies $4,900; credit Reserve for encumbrances $4,900 and Vouchers payable $4,900.
Correct Answer:
Verified
Correct Answer:
Verified
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