(a) Record the following transactions in the General Fund General Ledger of a school district that uses the purchases method to account for materials, supplies, and prepayments. Record both the budgetary and actual entries. Assume that materials .and supplies $37,000 were on hand at the beginning of the year
(b) What amount of nonspendable fund balance should be reported at year end?

1. The school district ordered the following:

School buses -2 ........................$225,000
Supplies .................................... 112,200

2. The school received one of the buses at an actual cost of 5120,000, which equaled the estimated amount.
3. The school received most of the supplies ordered (estimated cost, $95,000). The actual cost was $95,800.
4. The school paid $93,000 of the vouchers payable for the supplies.
5. At year-end, the school had supplies on hand costing S22,000.