Multiple Choice
A county previously encumbered $15,000 for the acquisition of supplies. The supplies were received at a total cost of $14,700. To recognize this event the county should make which of the following entries?
A) Debit Reserve for encumbrances $15,000; Credit Encumbrances $15,000.
B) Debit Reserve for encumbrances $14,700; Credit Encumbrances $14,700.
C) Debit Encumbrances $15,000; Credit Reserve for encumbrances $15,000.
D) Debit Encumbrances $14,700; Credit Reserve for encumbrances $14,700.
Correct Answer:
Verified
Correct Answer:
Verified
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