Prepare journal entries to record the following transactions in the budgetary accounts of ABC Agency.
1. Congress enacted appropriations that included $500,000 for the ABC Agency for the year 20X9. ABC Agency received an appropriation warrant in that amount from the Treasury.
2. The OMB apportioned $240,000 of the congressional appropriation.
3. The agency head made administrative allotments for salaries of $120,000 and for supplies of $80,000.
4. Purchase requests for supplies of $62,000 were made within the agency.
5. Purchase orders were placed for supplies estimated to cost $62,000.
6. The supplies that had been estimated to cost $62,000 were received. The invoice for the supplies was for only $60,800.

  • CreatedOctober 25, 2014
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