Question
The Charlton police department encumbered a police car on June 5 for $200,000. On June 29 the police car was purchased and the actual invoice
The Charlton police department encumbered a police car on June 5 for $200,000. On June 29 the police car was purchased and the actual invoice was for $192,000. The journal entry made on June 29 will debit?
Multiple Choice
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Expenditure $200,000
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Reserve for encumbrance $192,000
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Reserve for Encumbrance $200,000
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Encumbrance $198,000
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ISO IEC 27001 Lead Auditor Mastering ISMS Audit Techniques
Authors: Dr Tamuka Maziriri
1st Edition
107903160X, 978-1079031607
