ill guve a thumbs up just need the right answer asap
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The Town of Bedford Falls approved a General Fund operating budget for the fiscal year beginning on July 1. The budget provides for estimated revenues of $2,608,000 as follows property taxes, $1,868,000; licenses and permits, $330,000 fines and forfeits, $230,000; and intergovernmental state grants), $180,000 The budget approved appropriations of $2,562,000 as follows General Government , $480,000: Public Safety, S1,560,000, Public Works, $330,000, Culture and Recreation, $146,000; and Miscellaneous, $46,000 Required 1. & b. Prepare the Journal entry for entries), to record the Town of Bedford Falls's General Fund operating budget on July , the beginning of the Town's fiscal year and also record the following transactions that occurred during the month of July. Also show entries in the subsidiary ledger accounts, to record the Town of Bedford Falls's General Fund operating budget on July 1, the beginning of the Town's fiscal year (if no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1. Revenues were collected in cash amounting to $45,000 for licenses and permits and $19,000 for fines and forfeits. 2. Supplies were ordered by the following functions in early July at the estimated costs shown General Governsent Public Safety Public Works Culture and Recreation Miscellaneous Total $ 8,000 14,100 7.500 5.500 2.300 $38,300 3. During July, supplies were received at the actual costs shown below and were paid in cash General Government, Culture and Recreation and Miscellaneous received all wupplies ordered. Public Safety and Public Works received part of the supplies ordered earlier in the month ot estimated costs of $12,100 and 57300, respectively, ActualEstimated Cost Cost General Government $ 8,700 S 8,800 Public Safety 12,200 12,100 Public Works 7.580 7.300 Culture and Recreation 5.500 5,600 View transaction list Journal entry worksheet Record the Town of Bedford Falls's General Fund operating budget on July 1, the beginning of the Town's fiscal year. Note: Enter debits before credits. Event General Journal Debit Credit a Record entry Clear entry View general journal TOWN OF BEDFORD FALLS Revenues Ledger Est Revenues Revenues Cr Account Description Dr Cm Inri Balance Dr TOWN OF BEDFORD FALLS Revenues Ledger Est Revenues Revenues Cr Account Description Dr (Cr) Taxes Budget Balance Dr (Cr) (Dr) Licenses and Permits Budget Cash collected 0 O 0 Fines and Forfeits Budget Cash collected 0 Intergovernemental Revenues Budget 0 TOWN OF BEDFORD FALLS Appropriations, Expenditures, and Encumbrances Le Encumbrances Expenditur Balance Dr B Increase Dr Decrease Cr Dr (Cr) (Cr) Account/Description TUN UFO UFURU TALES Appropriations, Expenditures, and Encumbrances Ledger Encumbrances Expenditures Balance Dr Balance Appropriations Increase Dr Decrease Cr (Cr) Dr (Cr) Dr (CT) Cr (Dr) Balance Cr (Dr) Account/Description General Government Appropriations Order of Supplies Supplies received Public Safety Appropriations Order of Supplies Supplies received Public Works Appropriations Order of Supplies Supplies received Culture and Recreation Appropriations Order of Supplies Supplies received Miscellaneous Appropriations Order of Supplies Supplies received
