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goji.go goji.go
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Posts: 5977
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9 years ago
A Motor Pool Internal Service Fund purchased ten new vehicles for their fleet inventory.  The fund entered into a capital lease. The capitalizable cost totaled $300,000 and there was a $50,000 down payment. The entry to record the transaction in the Internal Service Fund would be
   
      Debit   Credit
A.   Vehicles
Expenditures
   Other Financing Source – Capital Lease
   Cash   $300,000
50,000   

$300,000
50,000
B.   Vehicles
   Other Financing Source – Capital Lease
   Cash   $300,000   
$250,000
50,000
C.   Vehicles
   Capital Lease Payable
   Cash   $300,000   
$250,000
50,000
D.   Vehicles
Expenditures
   Capital Lease Payable
   Cash   $250,000
50,000   

$250,000
50,000
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Diesel
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f_zah1f_zah1
wrote...
#1
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9 years ago
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wrote...
#2
3 years ago
You are correct
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