GOVERNMENTAL ACCOUNTING.................................................................................................

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Recording Adopted Budget. (LO3-5 ( ) The Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1: Estimated revenues: Taxes $15,000,000 Intergovernmental revenues 1,000,000 Licenses and permits 400,000 Fines and forfeits 150,000 Miscellaneous revenues 100,000 Total estimated revenues $16,650,000 Appropriations: General government $8,000,000 Public safety 6,000,000 Public works 1,550,000 Health and welfare 950,000 Miscellaneous 100,000 Total appropriations $16,600,000 Required Prepare the general journal entries to record the adopted budget at the beginning of the fiscal year. Show entries in the subsidiary ledger accounts as well as the general ledger accounts