Which of the following journal entries is a budgetary entry?
A)debit estimated revenues and credit appropriations
B)debit expenditures and credit cash
C)debit property taxes receivable and credit property tax revenues
D)debit cash and credit property taxes receivable

Question

Quizplus · Accepted Answer

Budgetary entries are made to record the budget for the fiscal year, and therefore, option A is a budgetary entry wherein the estimated revenues are debited while appropriations are credited. Option B is an actual entry recording the recording of expenditures and credit Cash while option C and D are regular entry records.

Which of the Following Journal Entries Is a Budgetary Entry