Question
The following activities occurred during 2017 in the General Fund: Issued purchase orders for $500,000. Purchase orders in the amount of $300,000 were filled at
The following activities occurred during 2017 in the General Fund:
Issued purchase orders for $500,000.
Purchase orders in the amount of $300,000 were filled at an invoice price of $288,000.
Paid salaries of for $105,000 (no encumbrance used).
Transferred $160,000 to the Debt Service Fund.
What amount is reported as EXPENDITURES? A. $288,000 B. $553,000 C. $393,000 D. $405,000
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Fundamental Financial Accounting Concepts
Authors: Thomas Edmonds
7th Edition
73527122, 978-0073527123
