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Johnson City purchased a fleet of snow removal trucks on April 1, 2021. The trucks had a cost of $20,000 with an estimated useful life
Johnson City purchased a fleet of snow removal trucks on April 1, 2021. The trucks had a cost of $20,000 with an estimated useful life of five years, and they were purchased by the general fund using cash. Address the following two questions in your written response: 1. What amount of expenditures would the governmental funds report for this transaction in fiscal year ended December 31, 2021? 2. If these trucks had been purchased by an enterprise fund instead of the general fund, what amount of expense would be associated with the trucks for fiscal year ended December 31, 2021
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