The city amended its budget to increase expected grant revenues by $500,000 and increase expected culture and recreation expenditures by $500,000. Which of the following statements concerning the budget amendment journal entry is correct?
A) Estimated Revenues will be credited for $500,000.
B) Appropriations will be debited for $500,000.
C) There will be no adjustment to Budgetary Fund Balance.
D) Expenditures will be debited for $500,000.

Question

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The Answer of The city amended its budget to increase expected grant revenues by $500,000 and increase expected culture and recreation expenditures by $500,000. Which of the following statements concerning the budget amendment journal entry is correct?
A) Estimated Revenues will be credited for $500,000.
B) Appropriations will be debited for $500,000.
C) There will be no adjustment to Budgetary Fund Balance.
D) Expenditures will be debited for $500,000.

The City Amended Its Budget to Increase Expected Grant Revenues