Estimated Revenues are $4,500,000 and Appropriations are $4,000,000, the journal entry for the budget must include a:
A) Debit to Budgetary Fund balance for 500,000
B) Debit to Encumbrances for 500,000
C) Credit to Budgetary Fund balance for 500,000
D) Credit to Reserve for Encumbrances for 500,000
Correct Answer:
Verified
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