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Governmental Budget A budget for City has been approved and the following information is available: Estimated inflow from revenue $900,000 Estimated inflow from general long

Governmental Budget

A budget for City has been approved and the following information is available:

  • Estimated inflow from revenue $900,000
  • Estimated inflow from general long term debt $100,000
  • Transfer from other funds $250,000
  • Sales of fixed Assets $300,000
  • Estimated outflows expenditures$1,200,000
  • Transfer to other funds $ 370,000

Record the above events in a general journal.

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