Simple City Has Recorded the Purchase Order of Two Trucks

question 10

Essay

Simple City has recorded the purchase order of two trucks for a total of $100,000.
Prepare the journal entries to reflect that the two trucks have been received with a voucher price of $105,000. This amount has been approved but not yet paid. Identify the fund in which the entries are recorded.

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Definitions:

Crossed Aldol Reaction

An aldol reaction where two different aldehydes or ketones are combined in the presence of a base or acid to produce a β-hydroxy aldehyde or ketone.

Self-aldol Condensation

A reaction where an aldehyde or ketone undergoes condensation with itself in the presence of a base to form a β-hydroxycarbonyl compound (an aldol) or a dehydrated version thereof.

Predict Outcome

The process of forecasting or determining the probable results or consequences of a chemical reaction or experiment.

Self-condensation

A reaction in which a molecule undergoes condensation with itself to form a larger molecule, often in the presence of a catalyst.