asked 32.5k views
1 vote
Carter County entered into a capital lease to finance an Emergency-911 telecommunications system. The capitalized cost of the equipment was $185,000. The county made a required down payment of $25,000. The first debt service payment will not be due until the next fiscal year. The entry to record the inception of this lease in the General Fund would be Expenditures.............................................................. Lease Payable...................................................... Cash..................................................................... $185,000 $160,000 25,000 Expenditures.............................................................. Other Financing Source....................................... Cash..................................................................... $185,000 $160,000 25,000 Capital Asset.............................................................. Lease Payable...................................................... Cash..................................................................... $185,000 $160,000 25,000 Capital Asset.............................................................. Other Financing Source....................................... Cash..................................................................... $185,000 $160,000 25,000

asked
User Agentfll
by
7.8k points

1 Answer

6 votes

Answer:

The second option

Step-by-step explanation:

Expenditures

Other Financing Source

Cash $185,000

$160,000

25,000

answered
User Bill Brooks
by
8.9k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.