Western Governors University (WGU) ACCT5201 D250 Governmental and Nonprofit Accounting Practice Exam

The correct accounting entry for recording the purchase of computers valued at $300,000 when they are received involves debiting the Computers asset account and crediting Accounts Payable. This reflects the transaction correctly because it acknowledges that the organization now owns an asset (the computers) while also recognizing its obligation to pay for that asset, which is reflected in Accounts Payable.

When debit entries are made, they increase the asset account, showing that the computers are now part of the organization's resources. Simultaneously, the credit entry to Accounts Payable signifies that there is an outstanding liability or obligation to pay for these computers, thus maintaining the balance in the accounting equation.

The other options involve either encumbrance accounting or figures that do not match the actual purchase amount of $300,000, which would not accurately capture the transaction in this scenario. Encumbrances are typically used in governmental accounting to record commitments for future expenditures and do not apply when the asset has been received and is ready for use. Therefore, the two entries that involve encumbrances do not pertain to the transaction at the point of receipt of the computers, while those showing incorrect amounts do not reflect the proper valuation of the asset being recorded.