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To close Encumbrances at the end of the year which of the following entries should be made? (1.5 Points) Debit Encumbrances; credit Fund balance. Debit

To close Encumbrances at the end of the year which of the following entries should be made?

(1.5 Points)

Debit Encumbrances; credit Fund balance.

Debit Reserve for encumbrances; credit Encumbrances

Debit Fund balance; credit Encumbrances.

No closing entry needed.

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