The General Fund of the City of X passed a budget,providing for $2,000,000 in anticipated revenues and $1,990,000 in anticipated expenditures.Following the procedures outlined in the text,the journal entries for the control accounts would result in a(an):

Question

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The General Fund passed a budget with anticipated revenues of $2,000,000 and anticipated expenditures of $1,990,000. To record this, the following journal entries would be made:
- Debit Estimated Revenues Control for $2,000,000 (to record the anticipated revenues)
- Credit Appropriations Control for $1,990,000 (to record the anticipated expenditures)
- Credit Budgetary Fund Balance for $10,000 (the difference between the anticipated revenues and expenditures)
Therefore, all three options are correct, resulting in choice D being the correct answer.

The General Fund of the City of X Passed a Budget,providing