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Unformatted text preview: (45,000) Depreciation Expense (40,000) Interest Expense (5,000) Income $ 10,000 5. c The assets at June 30, 20X7 appear as follows: Cash $ 96,000 Due from Other Funds 7,000 Computer Equipment (net) 610,000 Total Assets $713,000 6. b This is an example of an interfund services provided or used transaction. The general fund would debit expenditures. 7. a This is an example of an interfund services provided or used transaction. The enterprise fund would debit operating expenses. 8. b The net assets would be for the $600,000 transfer in plus the $10,000 of income for the period....
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- Fall '11