The Village of Albert, Alley recorded the following budgetary journal entry at the beginning of fiscal 2013:
Estimated revenue ............. 5,000,000
Appropriations................... 4,950,000
Budgetary fund balance............... 50,000
At the end of fiscal 2013, what would be the effect on the ending actual fund balance, assuming the following:
a. Actual revenues are equal to estimated revenues, and actual expenditures are $ 7,000 less than appropriations.
b. Actual revenues are equal to estimated revenues, and actual expenditures are equal to appropriations.
c. Actual revenues exceed estimated revenues by $ 4,000, and actual expenditures are equal to appropriations.
d. Actual revenues are $ 3,000 less than estimated revenues, and actual expenditures are $ 2,000 less than appropriations.