Question
The Fire Department of a given city received an appropriation in the amount of $14,000,000 for the fiscal year ended June 30, 2014. During the
The Fire Department of a given city received an appropriation in the amount of $14,000,000 for the fiscal year ended June 30, 2014. During the month ended July 31, 2013, the following transactions occurred: (a) purchase orders were issued in the amount of $650,000; (b) purchase orders, related to (a) above, were filled in the amount of $610,000; the related invoice amount was $595,000; invoices were paid in the amount of $550,000; (c) salaries were accrued and paid in the amount of $600,000. The balance available for the fire department as of July 31, 2013 is: A) $12,740,000. B) $12,800,000. C) $12,765,000. D) $12,840,000. Answer: C
*Please give step by step solution leading to the answer of C
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