Journal entries, capital assets. Prepare journal entries to record the following events using the general fund and the general fixed assets account group:
a. The general fund vouchered the purchase of trucks for $80,000. The purchase had been encumbered earlier in the year at $75,000.
b. Several years ago, equipment costing $15,000 was acquired with general fund revenues. It was sold for $6,000, with proceeds belonging to the general fund.
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here