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Prepare all the journal entries (budgetary and actual) required in all funds and the GCA-GLTL accounts to record the following transactions and events: Please record
Prepare all the journal entries (budgetary and actual) required in all funds and the GCA-GLTL accounts to record the following transactions and events:
Please record these journal entries in the format below:
include the Fund abbreviation for each journal entry as well as the transaction reference number from problems. Thank you!
hecounty sold old equipment-original cost $800,000, accumulated depreciation $600,000- for $127,000. The equipment was included in the General Capital Assets accounts. The sale proceeds are not restricted. . The county leased equipment for use by departments financed through the General Fund under a capital lease. The capitalizable cost was $780,000; an initial payment of $100,000 was made. 3. The county ordered new patrol cars estimated to cost $100,000. 4. The county received the patrol cars along with an invoice for $101,200. 5. Land with an acquisition value of $90,000 was donated to the county. The donor had paid $37,000 for the land when he acquired it four years ago. onds of $2,000,000 were issued at par for Enterprise Fund purposes. The bonds are to be repaid from the revenues of the Enterprise Fund. However, they are backed by the full faith and credit of the county; if the bonds cannot be repaid from the Enterprise Fund, general revenues must be used to repay them. Fund or Nonfund Accounts Reference# Account Title Debit CreditStep by Step Solution
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