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Prepare all required journal entries

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Problem - A new truck was ordered for the sanitation department at a cost of $158,600 on September 10, 2019. The truck was received on November 12, 2019. The actual cost was $161,000, and the payment was issued on December 5, 2019.

a) Prepare all required journal entries in the General Fund for the Fund Financial Statements.

b) Prepare all required journal entries for the Government-Wide Financial Statements.

Reference no: EM132964523

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