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Park City uses encumbrance accounting and formally integrates its budget into the general fund's accounting...

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Accounting

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:
Estimated revenues
Appropriations
Estimated transfer to debt service fund
$30,000,000
$27,000,000
$900,000
Park's budgetary fund balance is a
$3,000,000 credit balance
$3,000,000 debit balance
$2,100,000 credit balance
$2,1000,000 debit balance
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