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Question: Amber City Borrowed $1,000,000 Secured By A 5-Year Mortgage Note.... Amber City borrowed $1,000,000 secured by a 5-year mortgage note. The cash from
Question: Amber City Borrowed $1,000,000 Secured By A 5-Year Mortgage Note.... Amber City borrowed $1,000,000 secured by a 5-year mortgage note. The cash from the note was used to purchase a building for vehicle and equipment maintenance. Show how these two transactions should be recorded in the General Fund and governmental activities general journals. Question: Amber City Borrowed $1,000,000 Secured By A 5-Year Mortgage Note.... Amber City borrowed $1,000,000 secured by a 5-year mortgage note. The cash from the note was used to purchase a building for vehicle and equipment maintenance. Show how these two transactions should be recorded in the General Fund and governmental activities general journals.
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