1. A restricted state grant of $60,000 was awarded, but no related expenditures have been made, nor has any grant cash been received.

2. Qualifying expenditures incurred were vouchered: (a) $45,000 for the federal grant program (transaction 4) and (b) $30,000 for the state grant program. The federal grant program reimburses 80% of qualifying costs, whereas the state grant pays cost plus a 20% overhead allowance.

3. An annual payment in lieu of property taxes from the state was received, $300,000. The property taxes that would be paid if these properties were taxable would be $225,000.

4. The revenue estimates in the original budget adopted (transaction 1) were revised. The estimate for federal grants was reduced by $5,000 and interest earnings were increased by $2,000.

5. It was discovered that the 20X1 beginning Accounts Receivable balance was overstated by $15,000 and that $4,000 of 20X1 revenues had improperly been credited to the Federal Grants revenue account rather than to the State Grants revenue account.

6. At the end of 20X1, the following information was learned in the adjusting entry process: a. Some $30,000 of collectible 20X1 property tax receivables will not be collected until mid-20X2. b. Additional qualifying expenditures of $10,000 on the state grant program (transactions 5 and 6) have been incurred and recorded, but no related revenues have been recognized. c. Unrecorded interest earnings accrued at year end were $1,000.

Prepare the general journal entries to record these 20X1 transactions and events in the General Ledger.