Palmer City has recorded the purchase order of two trucks for a total of $150,000.Prepare the journal entries to reflect that the two trucks have been received with an invoice amount of $160,000. This invoice has been approved but not yet paid. Identify the fund in which the entries are recorded.

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The Answer of Palmer City has recorded the purchase order of two trucks for a total of $150,000.Prepare the journal entries to reflect that the two trucks have been received with an invoice amount of $160,000. This invoice has been approved but not yet paid. Identify the fund in which the entries are recorded.

Palmer City Has Recorded the Purchase Order of Two Trucks