A certain government passed its budget for the fiscal year ended December 31, 2017. Estimated Revenues amounted to $13,000,000; Appropriations amounted to
$12,000,000; Estimated Other Financing Uses amounted to $700,000; and Estimated Other Financing Sources amounted to $200,000. In the budgetary entry combining entry:

Question

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The journal entry would be: Debit Estimated Revenue Control for $13,000,000 and Other Financing Sources Control for $200,000 and credit Appropriations Control for $12,000,000 and Estimated Other Financing Uses Control for $700,000. The Budgetary Fund Balance would be credited for $500,000.

A Certain Government Passed Its Budget for the Fiscal Year