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The City of Portland has the following budget data for one of its Special Revenue Funds for the upcoming fiscal year: Estimated Revenues: $7,900,000 Appropriations:
The City of Portland has the following budget data for one of its Special Revenue Funds for the upcoming fiscal year: Estimated Revenues: $7,900,000 Appropriations: $8,900,000 Estimated Other Financing Sources: $1,100,000 The city just approved the budget and these amounts. Prepare the necessary budgetary journal entry in the General Ledger to record the budget
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