The Board of Commissioners of Vane City adopted its budget for the year ending July 31,comprising estimated revenues of $30,000,000 and appropriations of $29,000,000.Vane formally integrates its budget into the accounting records.What entry should be made for budgeted revenues?

Question

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In governmental accounting, when a budget is formally integrated into the accounting records, estimated revenues are debited to the ESTIMATED REVENUES CONTROL account to reflect the anticipated inflow of resources.

The Board of Commissioners of Vane City Adopted Its Budget