Question: Can you please solve this in 15mins? i will forver be grateful The following information is provided about some of the Town of Truesdale's General
Can you please solve this in 15mins? i will forver be gratefulThe following information is provided about some of the Town of Truesdale's General Fund operating statement and budgetary accounts for the fiscal year ended June 30. Estimated revenues Revenues Appropriations Expenditures Estimated other financing sources Encumbrances Encumbrances outstanding Budgetary fund balance $ 3,150,000 3,190,000 3,185,000 3,175,000 400,000 20,000 20,000 (calculate) The Town of Truesdale will honor all of its outstanding encumbrances in the next fiscal period. Prepare the journal entry(ies) to close budgetary accounts required to be closed at the fiscal year end using the information provided. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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