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Budgetary entries The City of Albany, New York (population estimate 98,000) adopted the following General Fund budget for fiscal year 2018. (For simplicity, we combined

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Budgetary entries The City of Albany, New York (population estimate 98,000) adopted the following General Fund budget for fiscal year 2018. (For simplicity, we combined many items into "All other" accounts.) Prepare the journal entry to record the budget. Estimated Revenues Property tax Sales tax $ 57,700,000 34,111,580 85,171,223 $176,982,803 All other Appropriations Police department Fire and emergency services All other $ 53,575,129 32,650,289 90,757,385 $176,982,803 Assume that, later in the year, the city decides to increase the Police department appropriation by $1,250,000, but does not increase the estimated revenues. Prepare the journal entry to record the change. Description Debit Credit To record budget for fiscal year 2018 To record increase in police department appropriation

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