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At year-end Oak County had $3,000 of outstanding purchase commitments on the books. After the...

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Accounting

At year-end Oak County had $3,000 of outstanding purchase commitments on the books. After the appropriate closing entries are made, what is the effect on the total fund balance of Oak County? a. It is $3,000 greater than it would have been if the purchase commitments had been fulfilled by year-end. b. It is $3,000 less than it would have been if the purchase commitments had been fulfilled by year-end. c. It is the same as it

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