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Assume the city of Troy uses the encumbrance system. Assume it orders a new firetruck on April 1, receives it May 1, and pays for

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Assume the city of Troy uses the encumbrance system. Assume it orders a new firetruck on April 1, receives it May 1, and pays for it May 15. It has a June 30th fiscal year. On April 1. what entry, if any, should it make? No entry Dr. expenditure for truck Cr. vouchers payable Dr. expenditure for truck, Cr. Encumbrances Dr. Encumbrances, Cr. either "Budgetary fund balance - assigned for encumbrances" or "Encumbrances outstanding

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