Prepare the general journal entries to adjust and close the

Prepare the general journal entries to adjust and close the Environmental Enhancement
Agency’s accounts at year end, assuming the agency is financed solely from
appropriations.Appropriations expended for operating costs . . . . . . . . . . . . . . . . . .
$3,700,000Appropriations expended for inventory . . . . . . . . . . . . . . . . . . . . . . .
400,000Appropriations expended for property, plant, and equipment . . . .
1,200,000Depreciation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 250,000Cost of
inventory used during the period . . . . . . . . . . . . . . . . . . . . . . 420,000Expired authority for the
year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 212,000Undelivered orders at year end . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . 185,000View Solution: Prepare the general journal entries to adjust
and close the
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