Charleston, SC approved a General Fund operating budget for the fiscal year ending June 30, 2015. The budget provides for estimated revenues of $3,500,000 as follows: Property taxes $2,700,000 Licenses and permits $350,000 Fines and forfeits $250,000 Intergovernmental (state grants) $200,000 The budget approved appropriations of $3,450,000 as follows: General Government $1,050,000 Public Safety $1,400,000 Public Works $350,000 Parks and Recreations $150,000 Miscellaneous $500,000 In the journal entry to record the budget, the Estimated Revenues account would be: Debited for 3,4500,000 Credited for 3,500,000 Credited for 3,450,000 Debited for 3,500,000