Prepare journal entries in the general fund

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Reference no: EM131525637

Question: Prepare journal entries in the General Fund of the Brownville School District.

a. The District had outstanding encumbrances of $13,000 for band instruments from the previous year. It is the District's policy to re-establish those encumbrances in the subsequent year.

b. The District ordered textbooks at an estimated cost of $87,000.

c. The band instruments arrived at an invoice price of $12,500 plus $225 shipping.

d. Textbooks originally estimated to cost $77,000 were received with an in voice price of $76,900. The remaining portion of the order is backordered.

e. A contract was signed with a CPA to provide the annual audit in the amount of $11,000.

Reference no: EM131525637

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