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A New Truck Was Ordered for the Sanitation Department at a Cost

Question 42

Essay

A new truck was ordered for the sanitation department at a cost of $122,200 on September 3, 2011.
Required:
(A) Prepare the required journal entry in the General Fund for the Fund-Based Financial Statements.
(B) Prepare the required journal entry for the Government-Wide Financial Statements.

Correct Answer:

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