Hamilton, Illinois has a June 30 fiscal year end. The following transactions occurred during the fiscal year ended June 30, 2019. The city council adopted the annual budget for the June 30, 2019 fiscal year on July 1, 2018 as follows: Revenue was estimated at $600,000. Legal authorization for budgeted expenditures totaled $591,000. The following transactions occurred during this fiscal year: 1. Property taxes were levied in the amount of $585,000; 2 percent of this amount was estimated to prove uncollectible. These taxes are available as of the date of the levy to finance current expenditures. 2. A general fund transfer of $ 7,500 was made to establish an internal service fund to provide for a permanent investment in inventory. 3. 4. The town decided to install lighting in the town park through a special assessment project authorized to do so at a cost of $112,500. The town is obligated if the property owners default on their special assessments. Special assessment bonds were issued in the amount of $ 108,000, and the first year's special assessment of $36,000 was levied against the town's property owners. The remaining $4,500 for the project will be contributed from the town's general fund. 5. The special assessments for the lighting project are due over a three-year period, and the first year's assessment of $36,000 was collected. The $4,500 transfer from the town's general fund was received by the lighting capital projects fund 6. A contract for $112,500 was let for the installation of the lighting. The capital projects fund was encumbered for the contract. On June 30, 2019, the contract was completed and the contractor was paid. 7. During the year, the internal service fund purchased various supplies at a cost of $2,850. 8. Cash collections recorded by the general fund during the year were as follows: Current property taxes $579,000 Licenses and permit fees 10,500 The allowance for estimated uncollectible taxes is adjusted to $6,000. 9. The town council decided to build a town hall at an estimated cost of $750,000 to replace space occupied in rented facilities. The town does not record project authorizations. The council decided that general obligations bonds bearing interest at 6% would be issued. On June 30, 2019, the bonds were issued at face value of $750,000, payable in 20 years. No contracts have been signed for this project, and no expenditures have been made, not has an annual operating budget been prepared. 10. A police car was purchased for $25,000 and the voucher was approved and paid by the general fund. This expenditure was previously encumbered for $ 25,700. REQUIRED: Prepare journal entries to record each of these transactions of Hamilton, Illinois for the fiscal year ended June 30, 2019. Prepare General Fund entries only. Do not prepare any closing entries for any fund. Hamilton, Illinois has a June 30 fiscal year end. The following transactions occurred during the fiscal year ended June 30, 2019. The city council adopted the annual budget for the June 30, 2019 fiscal year on July 1, 2018 as follows: Revenue was estimated at $600,000. Legal authorization for budgeted expenditures totaled $591,000. The following transactions occurred during this fiscal year: 1. Property taxes were levied in the amount of $585,000; 2 percent of this amount was estimated to prove uncollectible. These taxes are available as of the date of the levy to finance current expenditures. 2. A general fund transfer of $ 7,500 was made to establish an internal service fund to provide for a permanent investment in inventory. 3. 4. The town decided to install lighting in the town park through a special assessment project authorized to do so at a cost of $112,500. The town is obligated if the property owners default on their special assessments. Special assessment bonds were issued in the amount of $ 108,000, and the first year's special assessment of $36,000 was levied against the town's property owners. The remaining $4,500 for the project will be contributed from the town's general fund. 5. The special assessments for the lighting project are due over a three-year period, and the first year's assessment of $36,000 was collected. The $4,500 transfer from the town's general fund was received by the lighting capital projects fund 6. A contract for $112,500 was let for the installation of the lighting. The capital projects fund was encumbered for the contract. On June 30, 2019, the contract was completed and the contractor was paid. 7. During the year, the internal service fund purchased various supplies at a cost of $2,850. 8. Cash collections recorded by the general fund during the year were as follows: Current property taxes $579,000 Licenses and permit fees 10,500 The allowance for estimated uncollectible taxes is adjusted to $6,000. 9. The town council decided to build a town hall at an estimated cost of $750,000 to replace space occupied in rented facilities. The town does not record project authorizations. The council decided that general obligations bonds bearing interest at 6% would be issued. On June 30, 2019, the bonds were issued at face value of $750,000, payable in 20 years. No contracts have been signed for this project, and no expenditures have been made, not has an annual operating budget been prepared. 10. A police car was purchased for $25,000 and the voucher was approved and paid by the general fund. This expenditure was previously encumbered for $ 25,700. REQUIRED: Prepare journal entries to record each of these transactions of Hamilton, Illinois for the fiscal year ended June 30, 2019. Prepare General Fund entries only. Do not prepare any closing entries for any fund