Albee township’s fiscal year ends on june 30. albee uses encumbrance accounting. on april 5, year 1, an approved $1,000 purchase order was issued for supplies. albee received these supplies on may 2, year 1, and the $1,000 invoice was approved for payment. what journal entry should albee make on april 5, year 1, to record the approved purchase order?

This problem has been solved! see the answerwhich of the following statements is correct? the consumer price index is a measure of the overall level of prices, whereas the gdp deflator is not a measure of the overall level of prices. if, in the year 2011, the consumer price index has a value of 123.50, then the inflation rate for 2011 must be 23.50 percent. compared to the gdp deflator, the consumer price index is the more common gauge of inflation. the consumer price index and the gdp deflator reflect the goods and services bought by consumers equally well.