Given the following account balances from a trial balance: Deferred Inflows – Property Taxes. $40,000 Revenues. 900,000 Expenditures. 700,000…

Given the following account balances from a trial balance: Deferred Inflows – Property Taxes…. $40,000 Revenues……………………………. 900,000 Expenditures………………………… 700,000 Encumbrance……………………….. 20,000 Special Item (sale of land)………….. 15,000 Total Fund Balance………………… 62,000 The CLOSING ENTRIES would include a: I. Credit to Fund Balance of $235,000 II. Credit to Special Item of $15,000 A. I only B. […]


Given the following account balances from a trial balance: Deferred Inflows – Property Taxes. $40,000 Revenues. 900,000 Expenditures. 700,000… was first posted on November 24, 2022 at 3:54 am.

 

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