The board of commissioners of the City of Hartmoore adopted a General Fund budget for the year ending June 30, 2015, that included revenues of $1,122,500, bond proceeds of $570,000, appropriations of $965,000, and operating transfers out of $320,000.

a.

If this budget is formally integrated into the accounting records, what journal entry is required at the beginning of the year? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1. Record the entry for annual budget at the beginning of the year - General Fund.