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Which of the amounts should be reported

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Problem - Kingwood Town, at the beginning of the year, paid $22,000 cash for a flatbed trailer to be used in the general operations of the town. The expected useful life of the trailer is 6 years with an estimated $7,000 salvage value. Which of the following amounts should be reported?

a. $15,000 increase in equipment in the general fund.

b. $15,000 increase in general capital assets.

c. $22,000 increase in equipment in the general fund.

d. $22,000 increase in general capital assets.

Reference no: EM132695172

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