On July 12,2008,Fred City ordered a new computer at an anticipated cost of $114,400.The computer was received on July 16 with an actual cost of $116,220.Payment was subsequently made on August 15,2008.
Required:
(A. )Prepare all the required journal entries and identify the type of fund in which each entry was recorded for the Fund-Based Financial Statements.
(B. )Prepare all the required journal entries and identify the type of fund in which each entry was recorded for the Government-Wide Financial Statements.

Question

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The Answer of On July 12,2008,Fred City ordered a new computer at an anticipated cost of $114,400.The computer was received on July 16 with an actual cost of $116,220.Payment was subsequently made on August 15,2008.
Required:
(A. )Prepare all the required journal entries and identify the type of fund in which each entry was recorded for the Fund-Based Financial Statements.
(B. )Prepare all the required journal entries and identify the type of fund in which each entry was recorded for the Government-Wide Financial Statements.

On July 12,2008,Fred City Ordered a New Computer at an Anticipated