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Could Someone Help me with the below Journal Entries? 1. Estimated revenues and other financing sources for 20X2 included budgeted investment income of $25,000 and

Could Someone Help me with the below Journal Entries?

1. Estimated revenues and other financing sources for 20X2 included budgeted investment income of $25,000 and a budgeted transfer from the General Fund of $55,000. Unexpended appropriations of $1,720,000 carried over from the prior year. (Record the budget.)

2. The city reestablished its encumbrances of $1,720,000 that were closed at the end of 20X3.

3. The contractor billed the city $1,800,000 for the costs to complete the bridge. The project received final approval. The total cost of $3,500,000 included costs of $1,700,000 incurred in 20X3.

4. The city sold the Capital Projects Fund investments for $1,660,000, a gain of $10,000.

5. The city transferred $70,000 from the General Fund to the Bridge Capital Projects Fund.

6. The city paid the contractor the balance due, $1,885,000, and the fund was terminated.

7. The budgetary accounts were closed at year end. (Close the budgetary accounts in the transactions columns.)

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