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7 March, 05:50

The following are the events and transactions related with a township for the year 2015. You are required to prepare necessary entries for Township for the year 2015.

a. The Township adopted a budget calling for appropriations of $500,000. The estimated revenues (all property taxes) were $450,000.

b. The Township sent property tax bills amounting to $450,000 to property owners.

c. Property owners paid $420,000 of property taxes to the Township.

d. A purchase order of $65,500 was sent to a vendor of supplies.

e. The supplies ordered in transaction d. were received in good order and the accompanying invoice of $55,000 was approved.

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Answers (1)
  1. 7 March, 09:36
    0
    That would be answer A
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