at year-end, the city of Salem had the following ending balances in its general fund budgetary accounts:

Estimated Revenues 8,500,000

Appropriations 8,350,000

What is the correct closing entry to close out these two budgetary accounts?

Debit appropriations $8,350,000 Debit budgetary fund Balance $150,000 Credit Estimated Revenue 8,500,000

Debit appropriations $8,350,000 Debit budgetary fund Balance $150,000 Credit Revenues 8,500,000

Debit appropriations $8,350,000 Debit fund Balance %150,000 Credit estimated revenue 8,500,000

Debit estimated revenue 8,500,000 credit budgetary fund Balance %150,000 Credit Appropriations 8,350,000