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Mangrove Forest Parish had estimated Revenues from taxes of $5,000,000.00. The City Council Appropriated for it only $4,900,000. It also specifies that $50,000 must be

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Mangrove Forest Parish had estimated Revenues from taxes of $5,000,000.00. The City Council Appropriated for it only $4,900,000. It also specifies that $50,000 must be restricted for contingencies like Corona Virus epidemic. Required prepare the required Journal entries for the above City. (10 points)

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