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The board of commissioners of the City of Hartmoore adopts a general fund budget for the year ending June 30, 2020. It includes revenues of
The board of commissioners of the City of Hartmoore adopts a general fund budget for the year ending June 30, 2020. It includes revenues of $1,122,500, bond proceeds of $570,000, appropriations of $965,000, and operating transfers out of $320,000.
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If this budget is formally integrated into the accounting records, what journal entry is required at the beginning of the year?
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If this budget is formally integrated into the accounting records, what later entry is required? Please help, thank you!
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