Adjust the inventory of supplies account

Reference no: EM132712788

Question - The year-end balance of supplies inventory is $12,000.

Required - Adjust the inventory of supplies account in both the General Fund and governmental activities journals. At the government-wide level expenses in General Government can be reduced by $9,000 and Culture and Recreation can be reduced by $3,000. In the General Fund, fund balance should be classified as nonspendable.

Reference no: EM132712788

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