The budget for the city of Portage was approved at the beginning of the current fiscal year for estimated revenues of $2,100,000 and appropriations of $2,000,000. The entry to record this budget would include a debit to ______.
Multiple choice question.
Encumbrances, a debit to Budgetary Fund Balance, and a credit to Estimated Revenues
Estimated Revenues, a credit to Budgetary Fund Balance, and a credit to Encumbrances
Appropriations, a debit to Budgetary Fund Balance, and a credit to Estimated Revenues
Estimated Revenues, a credit to Budgetary Fund Balance, and a credit to Appropriations