The general fund of Loveland ordered a new fire truck on November 12, 20X8, for $150,000. The order was appropriately encumbered on this date. Loveland received the fire truck on January 15, 20X9, and issued a voucher to the manufacturer for $148,600. Loveland uses the calendar year for reporting, and outstanding encumbrances at December 31, 20X8, are lapsing. On January 15, 20X9, the general fund of Loveland should debit:
A. Expenditures-20X8 for $148,600.
B. Fund Balance-assigned for Encumbrances for $148,600.
C. Encumbrances for $148,600.
D. Expenditures for $148,600.
Answer: D
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