At January 1, 2021, the first day of the new fiscal period, the city council of Manama approves the operating budget for the general fund, providing for $1000,000 in revenue and $750,000 in expenditures.

on August 1, 2021, Manama City completed a purchase order (PO) to buy goods estimated to cost $25,000 from an outside vendor.

The goods are received on September 20, 2021, at an actual cost of $24,000.

In 15, 2021 the Manama City paid cash the goods payable

Requirements:

Recorder the above transactions on Manama City books