The City of Grand Marais uses encumbrance accounting. On May 6, a purchase order was approved and issued for supplies in the amount of $6,000. Grand Marais received these supplies on June 2, and the $6,000 invoice was approved for payment. What General Fund journal entry or entries should Grand Marais make on June 2, upon receipt of the supplies and approval of the invoice

Suppose you own a bicycle but haven't found the time to ride it much lately. these days, it is only worth $25 to you. one of your close friends, who recently got a job at the college bookstore two miles down the road, wants to take it off your hands. he offers you $70 for the bicycle, and you gladly accept. your friend is also happy because he thinks the bicycle is worth $95 . how much total value was created from this trade? $