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Accounting for long-term debt and acquisition of fixed asset

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Question: (Comparison of accounting for long-term debt and acquisition of fixed assets, using governmentaltype funds and proprietary-type funds) The Village of Peak's Kill acquired a computer for $300,000. The computer was financed through a bond issue. Prepare the journal entries necessary to record these events, assuming the computer was acquired using

(a) the General Fund and

(b) an Enterprise Fund. Also, label the fund(s) used.

Reference no: EM131703289

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