Reference no: EM132576961
Old West City had the following transactions in fiscal 2019. Assume that all expenditures were properly appropriated in the fiscal 2019 budget.
a. A Borrowing of $28,000 for a six-month term, to be paid upon receipt of property tax payments which were previously billed.
b. A purchase order for landscaping maintenance services was issued in the amount of $43,000.
c. The final invoice for landscaping maintenance was received in the amount of $43,000, and it was scheduled to be paid in 30 days.
d. A purchase of a new Equipment for $70,000. The truck is expected to have a 20-year useful life, and a $7,000 residual value.
e. The payment of the final invoice for landscaping maintenance.
Required:
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