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The Village of Peek's Kill enacted a budget that authorized the Peeks Kill police department to spend $150,000 for supplies and equipment. Also, calculate
The Village of Peek's Kill enacted a budget that authorized the Peeks Kill police department to spend $150,000 for supplies and equipment. Also, calculate the balance available for spending after the transactions occurred. Hint: Think about the journal entries, but you are not required to include them. Label your calculation in order to receive credit. 1. Placed purchase order (PO) A in the amount of $15,000 for police officer uniforms. 2. Placed PO B in the amount of $30,000 for a car for the chief of police. 3. Placed PO C in the amount of $7,000 for various training items, such as ammunition and targets. 4. The police chief received a call from the supplier of the car ordered. The supplier informed him that special bells and whistles were available for the car for $2.000. PO B (see 5. Transaction 2) was amended, thereby increasing the PO to $32.000. 5. The uniforms ordered in PO A (see Transaction 1) were received, along with an invoice for $14.500. The invoice was approved for payment. 6. The invoice received in Transaction 5 was paid by the village comptroller.
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