The journal entry for 4-5, (C), included a debit to Budgetary Fund Balance - Reserve for Encumbrances of $11,200.

Group of answer choices

True

False

45. Prepare journal entries in the General Fund of the Brownville School District. a. The District had outstanding encumbrances of $11,200 for band instru- ments from the previous year. It is the District's policy to re-establish those encumbrances in the subsequent year. b. The District ordered textbooks at an estimated cost of $57,000. c. The band instruments arrived at an invoice price of $10,900 plus $290 shipping d. Textbooks originally estimated to cost $49,000 were received with an invoice price of $48,500. The remaining portion of the order is back-ordered. e. A contract was signed with a CPA to provide the annual audit in the amount of $5,200