Balances										Balances
	Beginning of Year				Transactions						End of Year				Operating Statement				Balance Sheet
Account Title	Dr.		Cr.		#	Dr.		Cr.	#		Dr.		Cr.		Dr.	2	Cr.		Dr.	1	Cr.
Cash	342,230										342,230		-		-		-		-		-
Investments	125,000										125,000		-		-		-		-		-
Vouchers Payable			82,000								-		82,000		-		-		-		-
Accrued Salaries Payable			450								-		450		-		-		-		-
Fund Balance			384,780								-		384,780		-		-		-		-
Estimated Revenues											-		-		-		-		-		-
Appropriations											-		-		-		-		-		-
Budgetary Fund Balance											-		-		-		-		-		-
Revenues -- Intergovernmental											-		-		-		-		-		-
Revenues -- Interest											-		-		-		-		-		-
Expenditures -- Operating											-		-		-		-		-		-
Interest Receivable											-		-		-		-		-		-
Unearned Revenue											-		-		-		-		-		-
											-		-		-		-		-		-
	467,230		467,230			-		-			467,230		467,230		-		-		-		-
Change in Fund Balance															-		-		-		-

The above format gives the beginning balances in some of the accounts. So instead of having a list of journal entries, I need help putting what would be in a journal entry into the above format (the journal entries are supposed to go under the transactions section with the question number next to it). I am limited to putting the below transactions into the above accounts and extremely confused on it. If someone could help me that would be great, thank you!

The trial balance of the Economic Development Special Revenue Fund has beginning balances are debits to cash of $342,230 and investments of 125,000, and credits to accrued salaries payable 450, vouchers payable of 82,000, and fund balance of 384,780. Both the debits and credit sides equal $467,230.

The Economic Development Special Revenue Fund budget was adopted by the city council and included estimated operating recvenues of $930,000 and estimated investment income of $40,000. Appropiations of $945,000 were adopted for economic development programs.

QUESTIONS: Please record the following transactions.

1. the city received a 1,500,000 economic development grant from the state's department of economic development. the grant cash was received and is to be used in certain specified to attracct new business to the city and surronding area.

2. the city purchased investments of 1,300,000. the grant requires that all investment income from the investment of the grnat proceeds MUST be used for economic development.

3. the city received interest on its investments, 55,000.

4. the city incurred and vouchered 840,000 of economic development expenditures that qualify under the state grant program.

5. the city paid for salaries of 75,000 to economic development personnel. the payment included 450 of accrued salaries payable from the prior year. the salaries expenditures qualify under the grant program.

6. the city sold investments costing 800,000 for 815,000.

7. the city paid 800,000 on vouchers payable for economic development.

8. the fair value of the investments of the economic development special revenue fund at year end increased by 1,700. in addition, accrued interest on the investments at year end was 12,000.

9. Accrued salaries payable at year end totaled 200,

10. grant revenues for the year were recorded (if not recorded earlier).

11. the budgetary accounts were closed at year end. (close the budgetary accounts in the transactions columns).