. In recording its adopted operating budget, a village debits estimated revenues

Question

.       In recording its adopted operating budget, a village debits estimated revenues $1,000,000 and credits appropriations  $1,050,000. What additional journal entry is necessary?

a.       Debit expenditures $50,000

b.      Credit expenditures $50,000

c.       Debit budgetary fund balance $50,000

d.      Credit budgetary fund balance $50,000

In recording its adopted operating budget, a village debits estimated revenues $1,000,000 and credits appropriations $1,050,000. What additional journal entry is necessary? Debit expenditures $50,000 Credit expenditures $50,000 Debit budgetary fund balance $50,000 Credit budgetary fund balance $50,000

Explanation / Answer

a. Debit expenditures $50,000

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