1. Prepare general ledger and subsidiary ledger journal entries to record the following transactions.

2. Recognisile the general ledger and the subsidiary ledger at year end

3. Close the accounts

dgeting, Budgetary Accounting, and Budgetary Reporting 20X3. (b) Reconcile the general ledger and the subsidiary ledgers at year end. (c) Close the accounts 1. The Ann Arbor City Council adopted the following budget on the modified accrual basis for the Community Television Network Special Revenue Fund Estimated Revenues $1,270,080 Licenses, permits, & registrations Charges for services Investment income 1,313,455 519,339 194,541 159,547 1,321,455 Appropriations Personnel services. .. . Payroll fringes/insurance. Other charges. Capital outlay... Excess (Deficiency) of Estimated Revenues over Appropriations $ 8,000 2. The city collected cash for the network as follows: Licenses, permits, & registrations. Charges for services. Investment income $1,388,335 $1,416,938 3. City Council revised the Community Television Network Special Revenue Fund appropria- tions for "Personnel services" and "Payroll fringes/insurance" upward by $40,000 and tively, as a result of hiring an additional employee and minor modifications to the employees' insurance benefits. Appropriations for "Materials and supplies" and $15,000 Capital outlay" were reduced by $3,000 and $60,000, respectively was not paid by year end ment expected to cost $192,664 4. The payroll was approved and paid, $559,339 5. Payroll fringe benefit and insurance costs of $190,000 were incurred during the year; $10,000 6. The network ordered materials and supplies with an estimated cost of $17,000 and equip- 7. "Other services" of $194,000 and "Other charges" of $159,547 were incurred and paid. 8. The network received the materials and supplies ordered. The actual cost was $16,980. The network also received most of the equipment ordered, but orders for $50,000 of transmis- sion equipment had not been received by year end. The actual cost of the equipment received was equal to the expected costs c3-3 (Budgetary Comparison Statement) Using the information from C3-2 and assuming that the ginning budgetary and GAAP fund balance is $1,952,667, prepare the Statement of Revenues Expenditures, and Changes in Fund Balance-Budget and Actual for the year ended June 30 for the Community Television Network Special Revenue Fund of the City of Ann Arbor 20X3