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    Advanced Accounting
  4. Exam
    Exam 16: Accounting for State and Local Governments, Part I
  5. Question
    Simple City Has Recorded the Purchase Order of Two Trucks
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Simple City Has Recorded the Purchase Order of Two Trucks

Question 3

Question 3

Essay

Simple City has recorded the purchase order of two trucks for a total of $100,000.
Prepare the journal entries to reflect that the two trucks have been received with an invoice amount of $105,000.This invoice has been approved but not yet paid.Identify the fund in which the entries are recorded.

Correct Answer:

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