E4-33 (Accountng for govermental &Nonprofit Organization 2e)

Harmon School Districts General Fund accounts for all revenues and expenditures. At the start of school year 2022 (which runs from July 1, 2021 to June 30, 2022) the fund balance is $280,000. The approved budget for 2022 follows.

Estimated Revenues
Property taxes	$3,000,000
Intergovernmental revenues	900,000
Miscellaneous income	50,000
Appropriations
Administration	$300,000
Instruction	2,600,000
Pensions and other benefits	400,000
Transportation	200,000
Building maintenance	190,000
School supplies	220,000
All other expenditures	70,000

On August 10, 2021, Harmon School District issued a purchase order for school supplies in the amount of $50,000. On August 20, the school supplies arrived, together with an invoice for $52,000. The invoice was approved for payment because the purchase order allowed for price increases up to 5 percent. The invoice was paid on August 30. Prepare the entries necessary to record the encumbrance, approval for payment of the invoice, and payment of the invoice.