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On July 31, 2019, Sabio Public College showed the following amounts to be used for:Renewal and replacement of college properties . . . . . . . . . . . . . . . . . . $200,000Retirement of indebtedness on college properties . . . . . . . . . . . . . . . . . 300,000Purchase of physical properties for college purposes, but unexpended at July 31, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . 400,000What total amount should be included in Sabio’s plant funds at July 31, 2019?a. $900,000b. $600,000c. $400,000d. $200,000

On July 31, 2019, Sabio Public College showed the following amounts to be used for:Renewal and replacement of college properties . . . . . . . . . . . . . . . . . . $200,000Retirement of indebtedness on college properties . . . . . . . . . . . . . . . . . 300,000Purchase of physical properties for college purposes, but unexpended at July 31, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . 400,000What total amount should be included in Sabio’s plant funds at July 31, 2019?a. $900,000b. $600,000c. $400,000d. $200,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On July 31, 2019, Sabio Public College showed the following amounts to be used for:
Renewal and replacement of college properties . . . . . . . . . . . . . . . . . . $200,000
Retirement of indebtedness on college properties . . . . . . . . . . . . . . . . . 300,000
Purchase of physical properties for college purposes, but unexpended at July 31, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . 400,000

What total amount should be included in Sabio’s plant funds at July 31, 2019?
a. $900,000
b. $600,000
c. $400,000
d. $200,000

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