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Prepare journal entries to record the encumbrance

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Question - The Township of Sommerville had a general fund appropriation of $85,000 for public safety employee materials. On May 20 supplies were ordered with a quoted price of $80,000. On June 4th half the supplies were received with an invoice for $40,000.On June 30th, the other half was received along with an invoice for $40,200. Both invoices were approved for payment. Prepare journal entries to record the encumbrance and acceptance of the materials.

Reference no: EM132924247

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