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Your city borrows $50,000 (notes payable) to purchase an asset and pays $40,000 in cash for use in its overall general purpose. What should be the CREDIT entry reported in the general fund? Assume that this asset was properly budgeted this year. a. $40,000 in cash and $50,000 in notes payable b. $40,000 in cash and $50,000 in other financing sources - debt c. $50,000 in cash and $40,000 in notes payable d. $50,000 in cash and $40,000 in other financing sources - debt e. $90,000cash If the City of Sulphur bought $400,000 of supplies and used $300,000 in the current year, what is the appropriate debit (under the full accrual method) for the purchase? a. Supplies Inventory for $400,000 b. They should ask for an audit because that is a lot of supplies c. Supplies expense for $300,000 d. Supplies Inventory for $100,000 e. Supplies expenditures for $300,000