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During the month of July, the Town of Lynton recorded the following information related to purchases. Public safety Public works General government Culture and

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During the month of July, the Town of Lynton recorded the following information related to purchases. Public safety Public works General government Culture and recreation Amount of Purchase Order $ 570,000 755,200 974,845 Actual Cost $510,000 Total purchase orders and invoices 74,270 $2,374,315 740,013 483,480 74,320 $1,807,813 At the end of the month, several purchase orders remained outstanding for all functions except Culture and Recreation. Public Works in particular had a large amount of purchase orders outstanding because it had put in an order for delivery of paving materials to be delivered over the months of July and August. For all but Culture and Recreation, consider the amounts for purchase orders received the same as the actual cost of the items. Required a. (1) Prepare the general journal entry to record the issuance of the purchase orders. (2) Show entries in subsidiary ledger accounts. b. (1) Prepare the general journal entries to record the receipt of the goods ordered at the actual cost shown and the related payable. (2) Show entries for the subsidiary ledger accounts.

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