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The City of Salem issued purchase orders totaling $300,000. Of the $300,000 in purchase orders, goods were reeived totaling $280,000. The invoice for these goods

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The City of Salem issued purchase orders totaling $300,000. Of the $300,000 in purchase orders, goods were reeived totaling $280,000. The invoice for these goods was also $280,000. What budgetary journal entry should be recorded to account for the receipt of these goods? Debit Encumbrances, Credit Budgetary Fund Balance - Reserve for Encumbrances for $280,000 Debit Budgetary Fund Balance - Reserve for Encumbrances, Credit Encumbrances for $280,000 Debit Encumbrances, Credit Budgetary Fund Balance - Reserve for Encumbrances for $300,0 Debit Expenditures, Credit Accounts Payable for $300,000

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