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Prepare the journal entries to record the encumbrance

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Question - A $290 purchase order for advertisements soliciting bids for the Springer Street Project was issued on January 2. The bill for advertising in the amount of $300 was received and a voucher for payment was issued on January 15, 2011.

Required: Prepare the journal entries to record the encumbrance, billing and the Vouchers Payable liability in the Street Improvement Fund and governmental activities journals as appropriate.

Reference no: EM131789956

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