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A city orders a new computer for its General Fund at an anticipated cost of $88.400. Its actual cost when received is $90.490. Payment is
A city orders a new computer for its General Fund at an anticipated cost of $88.400. Its actual cost when received is $90.490. Payment is subsequently made. a. Prepare all required journal entries for both fund and government-wide financial statements. (Select the approprlate fund for each situation when required. If no entry is required for a transaction/event, select "No journal entry required" In the first account field.) Credit Answer is not complete. Transaction Fund/Activity General Journal Debit 1. Received in the computers and the accompanying liability Record the receipt of computers and the accompanying liability. Computer Encumbrances - computer 1 lol Record payment made Encumbrances - computer 0 % Cash 2. Received in the payment made for computers 2 Record payment made for computers. Computer Encumbrances - computer Record entry to remove encumbrance for computers that has now been received. No journal entry required Record the receipt of computers and the accompanying liability. Computer Cash Record payment made Encumbrances - computer Cash xo
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