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What journal entry should be made at the beginning of the fiscal year to reestablish the Encumbrances account of a capital projects fund for a multi-year capital project?

A) Debit encumbrances and credit fund balance.

B) Debit reserve for encumbrances and credit encumbrances.

C) Debit fund balance and credit encumbrances.

D) Debit encumbrances and credit reserve for encumbrances.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9411646

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