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Assume that a city approves the following budget for the year: ...

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Accounting

Assume that a city approves the following budget for the year:

Estimated revenues . . . . . . . . . . . . . . . . . . . . . .

$136,540

Estimated other financing sources. . .. . . . . . . . .

32,000

Appropriations . . . . . . . . . . . . . . . . . . . . . . . . . . .

(148,890)

Net change in fund balance . . . . . . . . . . . . . . . .

$ 19,650

Prepare the journal entry to record the budget.

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