Which of the following actions will reduce the balance in the ...

[bobbie]

Which of the following actions will reduce the balance in the budgetary account Allotments  realized resources?
 
  a. Administering department makes a quarterly allotment to the agency.
  b. Agency, which uses commitment accounting, makes a commitment to acquire materials.
  c. Agency sends disbursement schedule to Treasury requesting payment of invoice.
  d. Agency makes year-end accrual for unbudgeted, but accrued vacation pay,

Question 2

Discuss the process of posting from a revenue journal to the subsidiary ledger and to the general ledger.

[atrochim]

Answer to Question 1

b

Answer to Question 2

Each transaction is posted individually to customer accounts in the accountsreceivable subsidiary ledger. This should be done on a regular basis to keepcustomer balances current.

To provide a trail of the entries posted to the subsidiary and general ledgers, thesource of the entries is indicated in the Posting Reference column by inserting theletter R for Revenue Journal and the page number of the revenue journal.

A check mark is inserted in the Posting Reference column to indicate that thetransaction has been posted to the subsidiary ledger.

At the end of the month, the column total is posted to the general ledger as a debitto Accounts Receivable and a credit to Fees Earned. This total is equal to thesum of the month's debits to the individual accounts in the subsidiary ledger.

[bobbie]

Thank you

[atrochim]

Happy to help you