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During the month of July, the Town of Lynton recorded the following information related to purchases: During the month of July, the Town of Lynton
During the month of July, the Town of Lynton recorded the following information related to purchases:
During the month of July, the Town of Lynton recorded the following information related to purchases: At the end of the month, several purchase orders remained outstanding for all functions except Culture and Recreation. Public Works in porticular 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 recelved the same as the actual cost of the items. Required a. (1) Prepare the general joumal entry to record the issuance of the purchase orders. (2) Show entries in subsidiary ledger accounts. b. (1) Prepare the general joumal 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. Complete this question by entering your answers in the tabs below. Prepare the general journal entry to record the issuance of the purchase orders. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Complete this question by entering your answers in the tabs below. Show entries in subsidiary ledger accounts. Complete this question by entering your answers in the tabs below. Prepare the general journal entries to record the receipt of the goods ordered at the actual cost shown and the related payable. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Reqa1Reqa2Reqb1Reqb2 Show entries for the subsidiary ledger accounts. \begin{tabular}{|l|l|l|l|} \hline & \multicolumn{2}{|c|}{ TOWN OF LYNTON } \\ \hline Encumbrances Ledger \\ \hline Account/Description & Encumbrances Increase Dr & Encumbrances Decrease Cr & Encumbrances Balance Dr(Cr) \\ \hline General Government & & \\ \hline Public Safety & & & \\ \hline Public Works & & & \\ \hline Culture and Recreation & & & \\ \hline & TOWN OF LYNTON & \\ \hline & Expenditures Ledger & \\ \hline & Expenditures & Expenditures \\ Balance \\ Dr(Cr) & Balance Cr(Dr) \\ \hline Account/Description & & & \\ \hline General Government & & & \\ \hline Public Safety & & & \\ \hline Public Works & & & \\ \hline Culture and Recreation & & \\ \hline \end{tabular} Step by Step Solution
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