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Oak City issued a purchase order for supplies with an estimated cost of $4,950. When the supplies and accompanying invoice were received, the invoice indicated
Oak City issued a purchase order for supplies with an estimated cost of $4,950. When the supplies and accompanying invoice were received, the invoice indicated a $5,000 actual price. What amount should Oak city debit (credit) to Encumbrances when the supplies and accompanying invoice were received? a) ($5,000). b) $ 4,950. c) ($4,950). d) $ 5,000
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