On July 12, 2011, Fred City Ordered a New Computer

Essay

On July 12, 2011, Fred City ordered a new computer at an anticipated cost of $114,400. The computer was received on July 16 with an actual cost of $116,220. Payment was subsequently made on August 15, 2011.
Required:
(A) Prepare all the required journal entries and identify the type of fund in which each entry was recorded for the Fund-Based Financial Statements.
(B) Prepare all the required journal entries and identify the type of fund in which each entry was recorded for the Government-Wide Financial Statements.