What amount of nonspendable fund balance should be reported

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Problem

Capital Outlay; Inventory-Purchases Method

I. Record the following transactions in the General Fund General Ledger of a school district that uses the purchases method to account for materials, supplies, and prepayments. Record both the budgetary and actual entries. Assume that materials and supplies costing $37,000 were on hand at the beginning of the year. Get the instant assignment help.

II. What amount of nonspendable fund balance should be reported at year end?

Reference no: EM133971755

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