A purchase order for $3,000 is recorded in the General Fund for the purchase of a new

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A purchase order for $3,000 is recorded in the General Fund for the purchase of a new computer. The computer is received at an actual cost of $3,020. Which of the following is correct?

a. Machinery is increased in the General Fund by $3,020. LO9

b. An encumbrance account is reduced by $3,020.

c. An expenditure is increased by $3,020.

d. An expenditure is recorded for the additional $20.

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Advanced Accounting

ISBN: 9780073379456

9th Edition

Authors: Joe Ben Hoyle, Timothy S. Doupnik, Thomas F. Schaefer, Oe Ben Hoyle

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Question Posted: Jul 23, 2024 06:04 AM

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A purchase order for $3,000 is recorded in the General Fund for the purchase of a new

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Advanced Accounting

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