What general fund journal entry should grand marais make on, Ask an Expert

Accounting

Grand Marais city's fiscal year ends on June 30. Jasper uses encumbrance accounting. On May 6, a purchase order was approved and issued for supplies in the amount of $5,000. Grand Marias received these supplies on June 2, and the $5,000 invoice was approved for payment.

What General Fund journal entry should Grand Marais make on May 6, to record the approved purchase order?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9437626

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