Items 1 and 2 are based on the following:

Ridge Township’s governing body adopted its general fund budget for the year ended July 31, 2005, comprised of Estimated Revenues of $100,000 and Appropriations of $80,000. Ridge formally integrates its budget into the accounting records.

To record the appropriations of $80,000, Ridge should

  1. Credit Appropriations Control.
  2. Debit Appropriations Control.
  3. Credit Estimated Expenditures Control.
  4. Debit Estimated Expenditures Control.

To record the $20,000 budgeted excess of estimated revenues over appropriations, Ridge should

  1. Credit Estimated Excess Revenues Control.
  2. Debit Estimated Excess Revenues Control.
  3. Credit Budgetary Fund Balance.
  4. Debit Budgetary Fund Balance.