Ask Question
16 March, 02:45

15. The journal entry to record the re-establishment of encumbrances that were outstanding at the close of the prior period would include: A) A credit to Budgetary Fund Balance - Reserve for Encumbrances B) A debit to Budgetary Fund Balance - Reserve for Encumbrances C) A credit to Encumbrance

+4
Answers (1)
  1. 16 March, 05:19
    0
    B) A debit to Budgetary Fund Balance - Reserve for Encumbrances

    Explanation:

    Reserves for Ecumbrance is the fund which is kept aside for spending required by law or any legal contract. To re-establish the encumbrances a budget fund balance account will be debited to charge it to budget and reserve for Encumbrances ia credited because it is an obligation.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “15. The journal entry to record the re-establishment of encumbrances that were outstanding at the close of the prior period would include: ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers