Park City uses encumbrance accounting and formally integrates its budget into the general fund's accounting records. For the year ending July 31, Year 1, the following budget was adopted: Estimated revenues $30,000,000 Appropriations $27,000,000 Estimated transfer to debt service fund $900,000 Park's budgetary fund balance is a O $3,000,000 credit balance O $3,000,000 debit balance O $2,100,000 credit balance O $2,1000,000 debit balance Ridge Township's governing body adopted its general fund budget for the year ended July 31, Year 1, composed of estimated revenues of $100,000 and appropriations of $80,000. Ridge formally integrates its budget into the accounting records. To record the $20,000 budgeted excess of estimated revenues over appropriations, Ridge should Credit estimated excess revenues control O Debit estimated excess revenues control O Credit budgetary fund balance Debit budgetary fund balance Previous Next