Expenditures for supplies ordered by a special revenue fund were inadvertently recorded in the accounts of the General Fund in the amount of $100.Upon reimbursement of the $100,later the same month,the journal entry for the General Fund would include

Question

Quizplus · Accepted Answer

The expenditures were initially recorded in the General Fund, so they should be credited back to the same fund when reimbursed. The credit should be made to the Expenditures account, which will reduce the fund's expenditure balance.

Expenditures for Supplies Ordered by a Special Revenue Fund Were