When a computer which is to be used by an activity accounted for by the General Fund of a governmental unit is received, it should be recorded in the General Fund as aan:

Question

Quizplus · Accepted Answer

The general ledger journal entry in the General Fund to record actual expenditures and reversal of the associated encumbrance would include two entries; first, a debit to Budgetary Fund Balance - Reserve for Encumbrances and a credit to Encumbrances Control and second, a debit to Expenditures Control and credit to Accounts Payable.

When a Computer Which Is to Be Used by an Activity