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1-Assume that a city approves the following budget for the year: Estimated revenues . . . . . . . . . . . .

1-Assume that a city approves the following budget for the year:

Estimated revenues . . . . . . . . . . . . . . . . . . . . . . $136,540 Estimated other financing sources. . .. . . . . . . . . 32,000 Appropriations . . . . . . . . . . . . . . . . . . . . . . . . . . . (148,890) Net change in fund balance . . . . . . . . . . . . . . . . $ 19,650

Required: Prepare the journal entry to record the budget.

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