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2) The following are transactions for the city of Greenville. a. Issued $50,000 10-year bonds. b. Used $30,000 of the cash to buy a truck.
2) The following are transactions for the city of Greenville. a. Issued $50,000 10-year bonds. b. Used $30,000 of the cash to buy a truck. c. Sold the truck that was replaced which had cost $28,000, for $2,000. The old truck was fully depreciated. Residual value is zero. d. Computed depreciation on the new truck for the year of $6,000. Required: Analyze the above transactions by using the accounting equation for a governmental fund. Analyze the above transactions by using the accounting equation for a proprietary fund
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