The board of commissioners of the city of Bliss adopted a General Fund budget for...
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Accounting
The board of commissioners of the city of Bliss adopted a General Fund budget for the year ending Sept 30, 2016, which showed revenues of $5,200,000, bond proceeds of $425,000, appropriations of $4,225,000, and operating transfers out of $1,120,000. If the budget is formally integrated into the accounting records used to produce the Fund Financial Statements, what was the required journal entry at the beginning of the year? (12 points]
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