The County Commission of Canyon County adopted its General Fund budget for the year ending June 30, comprising estimated revenues of $13,200,000 and appropriations of $12,900,000. The budgeted excess of estimated revenues over appropriations will be recorded as:
A. A memorandum entry only.
B. A credit to Surplus Revenues, $300,000.
C. A debit to Estimated Excess Revenues, $300,000.
D. A credit to Budgetary Fund Balance, $300,000.
Answer: D
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