E 20-12 General fund journal entries Prepare the journal entries required to record the following transactions in the general fund of Rochester Township, 1. Borrowed $75,000 by issuing six-month tax anticipation notes 2. Ordered equipment with an estimated cost of $33,000 3. Received the equipment along with an invoice for its actual cost, $33,250. 4. Transferred $200,000 of general fund resources to a debt service fund. 5. On January 1, the township levied property taxes of $1,000,000. The township expects to collect all except $100,000 by the end of the fiscal year or within not more than 60 days thereafter. Of the remaining $100.000 half is expected to prove uncollectible. 6. The township received a $100,000 restricted grant for certain library programs from another unit of government The grant will be accounted for in the general fund. 7. The township incurred $75,000 of expenditures for the programs covered by the library grant