34.Recording Adopted Budget. The City of Marion adopted the following General Fund budget for fiscal year 2011:

Required

• a.Assuming that a city ordinance mandates a balanced budget, what must be the minimum amount in the Fund Balance account of the General Fund at the beginning of FY 2011?
• b.Prepare the general journal entries to record the adopted budget at the beginning of FY 2011. Show entries in the subsidiary ledger accounts as well as the general ledger accounts.