A city orders a new computer for its police department that is recorded within its general fund. The computer has an anticipated cost of $96,900. Its actual cost when received is $98,100. Payment is subsequently made.
Required:
a. Prepare all required journal entries for both fund and government-wide financial statements.
Note: Select the appropriate fund for each situation when required. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
Transaction
Fund or Activity
General Journal
1. Purchase and payment made for computers in the government-wide financial statements.
Record the receipt of computers and the accompanying liability.
Record payment made.
2. Purchase and payment made for computers in the general fund.
Debit
Credit
