Assume Estimated Revenues Exceed Appropriations

question 21

Multiple Choice

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

• A) a credit to Budgetary Fund Balance.
• B) a credit to Estimated Revenues Control.
• C) a debit to Appropriations Control.
• D) a credit to Budgetary Fund Balance -- Reserve for Encumbrances.

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