The city of Lynndale has $50,000 in compensated absence long-term liabilities related to governmental fund...
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Accounting
The city of Lynndale has $50,000 in compensated absence long-term liabilities related to governmental fund activities at the end of its 2018 fiscal year. What worksheet journal entry should be made to prepare the city of Lynndales 2019 fiscal year government-wide financial statements?
A) Compensation absences expense 50,000
Compensated absences payable 50,000
B) Compensation absences expense 50,000
Compensation absences expenditures 50,000
C) Net position 50,000
Compensation absences expense 50,000
D) Net position 50,000
Compensation absences payable 50,000
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