Journalizing in a General Fund:
Modified Accrual Basis:
Issued $20 million in long-term bonds.
Acquired several tracts of land at a total cost of $4million, paying the entire amount in cash.
Modified Accrual Basis:
Issued $20 million in long-term bonds.
Acquired several tracts of land at a total cost of $4million, paying the entire amount in cash.
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