I forgot tab #10 - Record property taxes collectible - General Fund.

Chesterfield County had the following transactions a. A budget is passed for all ongoing activities. Revenue is anticipated to be $980,250 with approved spending of $580,000 and operating transfers out of $333,000 b. A contract is signed with a construction company to build a new central office building for the government at a cost of $9.1 million. A budget for this project has previously been recorded c. Bonds are sold for $9.1 million (face value) to finance construction of the new office building d. The new building is completed. An invoice for $9.1 million is received and paid e. Previously unrestricted cash of $1.62 million is set aside to begin paying the bonds issued in (c) f. A portion of the bonds comes due and $1.62 mllion is paid. Of this total, $190,000 represents interest. The interest had not been previously accrued g. Citizens' property tax levies are assessed. Total billing for this tax is $830,000. On this date, the assessment is a legally enforceable claim according to the laws of this state. The money to be received is designated for the current period and 90% is assumed to be collectible in this period with receipt of an additional 6% during subsequent periods but in time to be available to pay current period claims. The remainder is expected to be uncollectible h. Cash of $204,000 is received from a toll road. This money is restricted for highway maintenance i. The county received investments valued at $325,000 as a donation from a grateful citizen. Income from these investments must be used to beautify local parks Prepare the entries first for fund financial statements and then for government-wide financial statements. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars not in millions.) FUND FINANCIAL STATEMENTS View transaction list Journal entry worksheet 4 5 6 Record the budget for the year - General Fund Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal