List the GL entries for the following items - list debit/credit (in 6 character format - all GL accounts, which may or may not include budgetary and proprietary) and amounts for each date listed.Â
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1) On January 2, 2015, an agency decides to order $2,000 of office supplies. The agency has made firm orders for specific vendors. The amounts total $2,000. There are no advances. What is the GL entry when the agency signs the order (but has not yet received the supplies),Â
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2) On February 2, 2015, the agency receives the goods – the goods are considered expenses, and are not considered personal or real property (or inventory). What is the GL entry?
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3Â On February 27, 2015, the vendor receives payment for the goods.Â
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How did the vendor (likely) receive payment? Who actually paid the vendor, in most cases? What is the GL entry?
Answers
Status NEW
Posted 21 Apr 2017 03:04 AM
My Price 7.00
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file 1492746495-Solutions file.docx preview (56 words )
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