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A city orders a new computer for its General Fund at an anticipated cost of $95,100. Its actual cost when received is $96,680. Payment is
A city orders a new computer for its General Fund at an anticipated cost of $95,100. Its actual cost when received is $96,680. Payment is subsequently made.
a. Prepare all required journal entries for both fund and government-wide financial statements. (Select the appropriate 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.)
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