Drysdale City passed a General Fund budget on 7/1/22 that includes Estimated Revenues equal to $4,200,000 and Appropriations equal to $4,000,000. During the first month of the fiscal period (7/1/22-6/30/23), the following events occurred:

7/5/22 Placed a purchase order for an office suite of furniture equal to $45,000.

7/10/22 Placed a purchase order for 10 new police cars equal to $600,000.

7/15/22 A budget amendment was passed that reduced the Appropriations budget by $500,000.

7/23/22 Received the entire office suite of furniture with an invoice that totaled $48,000.

7/26/22 Received 8 of the 10 new police cars with an invoice that totaled $480,000. The remaining two police cars are expected to arrive some time during the next month.

INSTRUCTIONS:

1. Prepare the journal entries necessary for the passage of the budget on 7/1/22 as well as any necessary entries for the events that occurred during July.

2. Compute the available appropriations for the General Fund as of 7/30/22. You do not need to prepare an appropriations ledger.