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Pineda State College, a public college, receives notification prior to the start of the fiscal year that it will receive $1,120,000 in appropriations from the
Pineda State College, a public college, receives notification prior to the start of the fiscal year that it will receive $1,120,000 in appropriations from the state. The appropriations are established for the purpose of meeting operating needs for the upcoming fiscal year.
On the first day of the fiscal year, Pineda College receives $280,000 of the appropriations amount. Record any necessary journal entry.
Enter accounts in order of magnitude (largest to smallest amounts), debits first.
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