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:

Medial Lobe

Typically refers to a section of an organ or brain that is situated towards the middle of the body.

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration.

Right Lung

The larger of the two lungs, located on the right side of the thorax, divided into three lobes and responsible for respiratory function.

Lower Respiratory System

The part of the respiratory system including the trachea, bronchi, and lungs, involved in the vital process of gas exchange.