What journal entry should be made at the end of the fiscal year to close out encumbrances for which goods and services have not been received?
A) Debit reserve for encumbrance and credit encumbrances.
B) Debit reserve for encumbrances and credit fund balance.
C) Debit fund balance and credit encumbrances.
D) Debit encumbrances and credit reserve for encumbrances.

Question

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The Answer of What journal entry should be made at the end of the fiscal year to close out encumbrances for which goods and services have not been received?
A) Debit reserve for encumbrance and credit encumbrances.
B) Debit reserve for encumbrances and credit fund balance.
C) Debit fund balance and credit encumbrances.
D) Debit encumbrances and credit reserve for encumbrances.

What Journal Entry Should Be Made at the End of the Fiscal