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Park City uses encumbrance accounting and formally integrates its budget into the general fund’s accounting records. For the year ending July 31, year 1, the following budget was adopted:
When Park’s budget is adopted and recorded, Park’s budgetary fund balance would beadopted: A. Credited for $2,100,000. B. Credited for $3,000,000. C. Debited for $2,100,000. D. Debited for $3,000,000. |