3-12 Following are transactions and events of the General Fund of the City of Springfield for the fiscal year ended December 31, 2020. 1. Estimated revenues (legally budgeted) Property taxes $5,641,000 Sales taxes 4,830,000 Licenses and permits 1,500,000 Miscellaneous 500.000 2. Appropriations General government $5,285,000 Culture and recreation 4,210,000 Health and welfare 1,000,000 3. Revenues received (cash) Page 79 Property taxes $5,545,000 Sales taxes 4,700,000 Licenses and permits 1,700,000 Miscellaneous 800,000 4. Encumbrances issued (includes salaries and other recurring items) Estimated General government $5,275,000 Culture and recreation 4.630,000 Health and welfare 905,000 5. Goods and services received (paid in cash) General government Culture and recreation Health and welfare Estimated Actual $5,275,000 $5,285,000 4,630,000 4,610,000 905,000 890,000 6. Budget revisions Increase appropriations: General government $140,000 Culture and recreation 110,000 7. Fund balance on January 1, 2020, was $753,000. There were no outstanding encumbrances at that date. a. Record the transactions using appropriate journal entries. b. Prepare a budgetary comparison schedule for the General Fund