Question: Elm City issued a purchase order for supplies with an estimated cost of $5,000. When the supplies were received, the accompanying invoice indicated an actual

Elm City issued a purchase order for supplies with an estimated cost of $5,000. When the supplies were received, the accompanying invoice indicated an actual price of

$4,950. What amount should Elm debit (credit) to Budgetary Fund Balance—Reserved for Encumbrances after the supplies and invoice were received?

a. $ (50)

b. $ 50

c. $4,950

d. $5,000

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