Question
If the city projects a $428,000 decrease in the sales tax revenues originally budgeted, how would the change in the projection be recorded? Debits Credits
If the city projects a $428,000 decrease in the sales tax revenues originally budgeted, how would the change in the projection be recorded?
Debits | Credits | |
a. | Not recorded because it is a projection and not yet known. | |
b. | Estimated Revenue | 428,000 |
Budgetary Fund Balance | 428,000 | |
c. | Budgetary Fund Balance | 428,000 |
Estimated Revenue | 428,000 | |
d. | Revenue | 428,000 |
Fund Revenue | 428,000 |
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Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
23rd Edition
978-0324662962
