Chapter 3 Recording the Annual Budget The following budget for the General Fund of the City of Smithville was legally adopted for the fiscal year ending December 31, 2017. Estimated Revenues: Taxes: Real Property $1,679.070 Sales 1,960,000 Interest and Penalties on Taxes 9.000 Licenses and Permits 600.000 Fines and Forfeits 410,000 Intergovernmental Revenue 275,000 Charges for Services 236,000 Miscellaneous Revenues 91,300 Total Estimated Revenues $5,260,370 Appropriations: General Government $ 667.200 Public Safety 2.565.500 Public Works 905.000 Health and Welfare 604.300 Culture and Recreation 460,800 Miscellaneous 47,100 Total Appropriations $5.249.900 Estimated Other Financing Sources and Uses: Interfund Transfer Out $ 20,000 Required a. After opening the file you created for Chapter 2 of this project, record the budget in the general journal, providing entries in the Detail Journal when directed. Begin by selecting [General Fund] in the [Current Accounting Entity] drop-down box and the [Journal] tab. In the [Year] box, be sure to select the year 2017. Enter 3-a in the [Transaction Description] box. Select "Estimated Revenues" in the drop down [Account (# - Description)] window. This will take you automatically to the Detail Journal where you will enter the detail for each estimated revenue source. In the Detail Journal. select "Budget Authorization" from the drop-down menu for [Transaction Description]. When you have finished entering the estimated revenue detail information, verify that the correct total amount is shown in the Detail Journal, then click on [Return to General Journal] and the total estimated revenues will be entered in the general journal Estimated Revenues control account. Follow the same procedure to record the budget detail for Appropriations. To complete this entry debit or credit Budgetary Fund Balance as appropriate to balance the budgetary entry