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Nastasia [14]
3 years ago
9

Carter County entered into a capital lease to finance an Emergency-911 telecommunications system. The capitalized cost of the eq

uipment 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
Business
1 answer:
Sloan [31]3 years ago
3 0

Answer:

The second option

Explanation:

Expenditures

Other Financing Source

Cash $185,000

$160,000

25,000

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