Answer:
b) Estimated Revenues Appropriations Budgetary Fund Balance $6,400,000 $6,080,000 320,000
Explanation:
Estimated Revenues $6,400,000 Dr
Appropriations $6,080,000 Cr
Budgetary Fund Balance $320,000 Cr
This entry is made on the adoption of Special Revenue Fund Budget for the year.
The special revenue fund is used for the special purposes such public maintenance etc.
The entry made on closing
Close out the budget at year end
Appropriations $ 6080,0000 Dr
Budgetary Fund Balance $ 320,000 Dr
Estimated Revenues $ 6400,000 Cr
