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To close Reserve for encumbrances at the end of the year which of the following entries should be made? Debit Reserve for encumbrances; Credit Fund

To close Reserve for encumbrances at the end of the year which of the following entries should be made?

Debit Reserve for encumbrances; Credit Fund balance.

Debit Reserve for encumbrances; Credit Encumbrances.

Debit Fund balance; Credit Reserve for encumbrances.

No closing entry needed.

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