The Police Department of a given city received an appropriation in the amount of $9,000,000 for the fiscal year ended June 30, 2017. During the month ended July 31, 2017, the following transactions occurred: a) purchase orders were issued in the amount of $800,000; b) purchase orders, related to a) above, were filled in the amount of $790,000; the related invoice amount was $795,000; invoices were paid in the amount of $750,000; c) salaries were accrued and paid in the amount of $775,000. The balance available for the police department as of July 31, 2017 is:

Question

Quizplus · Accepted Answer

$9,000,000 appropriation - $800,000 purchase order - $795,000 actual invoice amount + $790,000 purchase orders filled - $775,000 salaries = 7,420,000

The Police Department of a Given City Received an Appropriation