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Assuming Normal Balances in the Following Accounts Prepare Closing Entries

Question 41

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Assuming normal balances in the following accounts prepare closing entries for the fiscal year ending March 31.
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 Account  Normal Balance  Appropriations $500,000 Budgetary Fund Balance Unassigned $35,000 Estimated Other Financing Uses $10,000 Estimated Other Financing Source $325,000 Estimated Revenue $150,000\begin{array} { | l | l | } \hline \text { Account } & \text { Normal Balance } \\\hline & \\\hline \text { Appropriations } & \$ 500,000 \\\hline \text { Budgetary Fund Balance Unassigned } & \$ 35,000 \\\hline \text { Estimated Other Financing Uses } & \$ 10,000 \\\hline \text { Estimated Other Financing Source } & \$ 325,000 \\\hline \text { Estimated Revenue } & \$ 150,000 \\\hline & \\\hline\end{array}

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