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Prepare journal entries for the following transactions

04/05/2021 Client: muhammad11 Deadline: 2 Day

Prepare journal entries to record the following transactions and events affecting the General Fund of the Village of Kowitt Gorge during fiscal 2013.

1. The annual budget was adopted as follows:

Estimated Revenues

Property taxes........... $ 1,600,000

Fines and forfeits........... 150,000

Intergovernmental........... 475,000

..................$ 2,225,000

Appropriations

General government........ $ 210,000

Public safety ...........1,580,000

Streets ..............395,000

.................$ 2,185,000

2. Purchase orders were issued for supplies with the following estimated costs:

General government........ $ 210,000

Public safety............. 1,450,000

Streets.............. 395,000

.................$ 2,055,000

3. Revenues were received in cash as follows:

Property taxes ............$ 855,000

Fines and forfeits ..........117,000

Intergovernmental......... 295,000

.................$ 1,267,000

4. Items on order were received and accepted, and vouchers were prepared, as follows. ( Amounts shown as “ Estimated” are the purchase order amounts; amounts shown as “ Actual” are the approved invoice amounts.)

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