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Journal entries for these budgetary and financial accounts

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The ledger of the General Fund of the City of New Elisa shows the following balances at the end of the fiscal year. Prepare closing journal entries for these budgetary and financial accounts.
Estimated revenues ....... $ 300,000
Appropriations ....... 305,000
Budgetary fund balance...... 5,000
Revenues............ 300,000
Expenditures .......... 285,000
The ledger of the General Fund of the City

Reference no: EM13868965

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