The Susanville School System had general ledger account balances in its general fund on July 1, XXXX, as follows:

The following transactions occurred during the fiscal year:

a. Local property taxes of $250,000 were assessed and levied.

b. General supplies were purchased on account for $20,000.

c. General state aid in the amount of $145,000 was received.

d. Collected $200,000 from taxes receivable.

e. Paid salaries of regular employees, in the amount of $215,000.

f. Paid the full amount of accounts payable.
g. Sold investments of $180,000 for $180,000.
h. Paid for electricity in the amount of $8,500.
i. Paid for natural gas in the amount of $4,800.
Assume the chart of accounts for the school district consists of the following:

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101 111 121 730 Cash in bank $30,000 Investments Taxes receivable 180,000 210,000 Unreserved fund balance 420,000