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Home Q & A Board Other Fields Homework Help Business Accounting
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goji.go goji.go
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Posts: 5977
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9 years ago
A local school district issued a short-term note payable to purchase $500,000 of recreation equipment. The note will be repaid with General Fund resources. The General Fund would record
A.   Debit Expenditures – Capital Outlay and credit Due to Bank, for $500,000.
B.   Debit Capital Assets and credit Notes Payable, for $500,000.
C.   Debit Capital Assets and credit Revenues, for $500,000.
D.   Debit Expenditures – Capital Outlay and credit Note Payable, for $500,000.
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Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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#1
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9 years ago
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goji.go Author
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#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
wrote...
#3
9 years ago
You're very welcome!
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