Estimated Revenues are $4,500,000,and Appropriations are $4,000,000,the journal entry for the budget includes a:

Question

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The estimated revenues of $4,500,000 exceed the appropriations of $4,000,000, resulting in a surplus of $500,000 in the budget. Therefore, the journal entry should include a credit to the Budgetary Fund balance for $500,000. This entry reflects the excess of revenue over expenditure and increases the available resources of the government.

Estimated Revenues Are $4,500,000,and Appropriations Are $4,000,000,the Journal Entry for the Budget