5 Following are descriptions of transactions and other financial events for the City of Tetris for the year ending December 2017. Not all transactions have been included here. Only the general fund formally records a budget. No encumbrances were carried over from 2016 10 points $21,000 40,000 232,000 Paid salary for police officers Received government grant to pay ambulance drivers Estimated revenues Received invoices for rent on equipment used by fire department during last four months of the year Paid for newly constructed city hall Made commitment to acquire ambulance Received cash from bonds sold for construction purposes Placed order for new sanitation truck Paid salary to ambulance drivers-money derived from state 3,000 1,044,000 eBook 111,00 300,000 154,000 Print government grant given for that purpose Paid for supplies for school system Made transfer from General Fund to eventually pay off a long 24,000 16,000 33,000 References term debt Received but did not pay for new ambulance Levied property tax receivables for 2017. City anticipates that 120,000 95% ($190,000) will be collected during the year and 5% will be uncollectible 200,000 40,000 Acquired and paid for new school bus Received cash from business licenses and parking meters (not previously accrued) 14,000 225,000 Approved appropriations The following questions are independent although each is based on the preceding information. Assume that the government is preparing information for its fund financial statements. a. What is the balance in the Budgetary Fund Balance account for the budget for the year? Is it a debit or credit? d. Assume that new ambulance was received on December 31, 2017. Provide all necessary journal entries on that date e. Prepare all journal entries that should have been made when the $33,000 transfer was made for the eventual payment of a long term debt. f. What amount of revenue would be recognized for the period? g. What are the total expenditures? h. What journal entry or entries were prepared when the bonds were issued? Complete this question by entering your answers in the tabs below