The board of commissioners of the City of Hartmoore adopted a General Fund budget for the year ending June 30,2013, that included revenues of $1,000,000, bond proceeds of $400,000, appropriations of $900,000, and operating transfers out of $300,000. If this budget is formally integrated into the accounting records, what journal entry is required at the beginning of the year? What later entry is required?

Answer rating: 100% (QA)

This problem requires knowledge of General Fund budgets in journal entry form Determine the debited ... View the full answer