Assume estimated revenues exceed appropriations. When the budget for the General Fund is recorded, the journal entry will include:

Name: Assume estimated revenues exceed appropriations. When the budget for the General Fund is recorded, the journal entry will include:
Brand: Quizplus
Rating: 4.8 (54 reviews)

Question

Quizplus · Accepted Answer

Assuming estimated revenues exceed appropriations, the journal entry to record the budget for the General Fund will include a debit to Estimated Revenues Control, a credit to Appropriations Control and a credit to Budgetary Fund Balance.

Assume Estimated Revenues Exceed Appropriations