A city orders a new computer for its General Fund at an anticipated cost of $88,000. Its actual cost when received is $89,400. Payment is subsequently made.

a.

Prepare all required journal entries for both fund and government-wide financial statements. 1. Record the receipt of computers and the accompanying liability Governmental Activities 2.Record payment made - Governmental Activities 3.Record payment made for computers - General Fund. 4.Record entry to remove encumbrance for computers that has now been received - General Fund. 5.Record the receipt of computers and the accompanying liability - General Fund. 6.Record payment made - General Fund.