Journal entries for a series of transactions Prepare journal entries in the General Fund for each of the following events relating to the City of Bar Harbor (all amounts in $1,000s).

a. The citizens approve the following budget for the year:

ESTIMATED REVENUES	$78,924
ESTIMATED OTHER FINANCING SOURCES	2,000
APPROPRIATIONS	(77,273)
BUDGETARY FUND BALANCE	$3,651

General Journal
Description	Debit	Credit
AnswerESTIMATED REVENUESESTIMATED OTHER FINANCING SOURCESAPPROPRIATIONSENCUMBRANCESBUDGETARY FUND BALANCECashOther financing sources--proceeds from bond issueReal estate taxes receivableIntergovernmental fees receivableVouchers payableDeferred revenues--real estate taxesRevenues--real estate taxesRevenues--intergovernmentalExpenditures--human servicesExpenditures--debt principal paymentsFund balance--unassignedFund balance--assignedFund balance--nonspendable	Answer	Answer
ESTIMATED OTHER FINANCING SOURCES	Answer	Answer
APPROPRIATIONS	Answer	Answer
AnswerESTIMATED REVENUESESTIMATED OTHER FINANCING SOURCESAPPROPRIATIONSENCUMBRANCESBUDGETARY FUND BALANCECashOther financing sources--proceeds from bond issueReal estate taxes receivableIntergovernmental fees receivableVouchers payableDeferred revenues--real estate taxesRevenues--real estate taxesRevenues--intergovernmentalExpenditures--human servicesExpenditures--debt principal paymentsFund balance--unassignedFund balance--assignedFund balance--nonspendable	Answer	Answer

b. The City records the following revenues (on account) and other financing sources (paid in cash) during the year:

1.	Revenues-real estate and personal property taxes	$68,650
2.	Revenues-intergovernmental	12,685
3.	Other financing sources-bond proceeds	2,400

Description		Debit	Credit
1.	AnswerESTIMATED REVENUESESTIMATED OTHER FINANCING SOURCESAPPROPRIATIONSENCUMBRANCESBUDGETARY FUND BALANCECashOther financing sources--proceeds from bond issueReal estate taxes receivableIntergovernmental fees receivableVouchers payableDeferred revenues--real estate taxesRevenues--real estate taxesRevenues--intergovernmentalExpenditures--human servicesExpenditures--debt principal paymentsFund balance--unassignedFund balance--assignedFund balance--nonspendable	Answer	Answer
	AnswerESTIMATED REVENUESESTIMATED OTHER FINANCING SOURCESAPPROPRIATIONSENCUMBRANCESBUDGETARY FUND BALANCECashOther financing sources--proceeds from bond issueReal estate taxes receivableIntergovernmental fees receivableVouchers payableDeferred revenues--real estate taxesRevenues--real estate taxesRevenues--intergovernmentalExpenditures--human servicesExpenditures--debt principal paymentsFund balance--unassignedFund balance--assignedFund balance--nonspendable	Answer	Answer

2.	AnswerESTIMATED REVENUESESTIMATED OTHER FINANCING SOURCESAPPROPRIATIONSENCUMBRANCESBUDGETARY FUND BALANCECashOther financing sources--proceeds from bond issueReal estate taxes receivableIntergovernmental fees receivableVouchers payableDeferred revenues--real estate taxesRevenues--real estate taxesRevenues--intergovernmentalExpenditures--human servicesExpenditures--debt principal paymentsFund balance--unassignedFund balance--assignedFund balance--nonspendable	Answer	Answer
	AnswerESTIMATED REVENUESESTIMATED OTHER FINANCING SOURCESAPPROPRIATIONSENCUMBRANCESBUDGETARY FUND BALANCECashOther financing sources--proceeds from bond issueReal estate taxes receivableIntergovernmental fees receivableVouchers payableDeferred revenues--real estate taxesRevenues--real estate taxesRevenues--intergovernmentalExpenditures--human servicesExpenditures--debt principal paymentsFund balance--unassignedFund balance--assignedFund balance--nonspendable	Answer	Answer

3.	AnswerESTIMATED REVENUESESTIMATED OTHER FINANCING SOURCESAPPROPRIATIONSENCUMBRANCESBUDGETARY FUND BALANCECashOther financing sources--proceeds from bond issueReal estate taxes receivableIntergovernmental fees receivableVouchers payableDeferred revenues--real estate taxesRevenues--real estate taxesRevenues--intergovernmentalExpenditures--human servicesExpenditures--debt principal paymentsFund balance--unassignedFund balance--assignedFund balance--nonspendable	Answer	Answer
	AnswerESTIMATED REVENUESESTIMATED OTHER FINANCING SOURCESAPPROPRIATIONSENCUMBRANCESBUDGETARY FUND BALANCECashOther financing sources--proceeds from bond issueReal estate taxes receivableIntergovernmental fees receivableVouchers payableDeferred revenues--real estate taxesRevenues--real estate taxesRevenues--intergovernmentalExpenditures--human servicesExpenditures--debt principal paymentsFund balance--unassignedFund balance--assignedFund balance--nonspendable	Answer	Answer

c. The City issues purchase invoices totaling $78,508 (record the issuance of invoices as a lump sum).

Description	Debit	Credit
AnswerESTIMATED REVENUESESTIMATED OTHER FINANCING SOURCESAPPROPRIATIONSENCUMBRANCESBUDGETARY FUND BALANCECashOther financing sources--proceeds from bond issueReal estate taxes receivableIntergovernmental fees receivableVouchers payableDeferred revenues--real estate taxesRevenues--real estate taxesRevenues--intergovernmentalExpenditures--human servicesExpenditures--debt principal paymentsFund balance--unassignedFund balance--assignedFund balance--nonspendable	Answer	Answer
AnswerESTIMATED REVENUESESTIMATED OTHER FINANCING SOURCESAPPROPRIATIONSENCUMBRANCESBUDGETARY FUND BALANCECashOther financing sources--proceeds from bond issueReal estate taxes receivableIntergovernmental fees receivableVouchers payableDeferred revenues--real estate taxesRevenues--real estate taxesRevenues--intergovernmentalExpenditures--human servicesExpenditures--debt principal paymentsFund balance--unassignedFund balance--assignedFund balance--nonspendable	Answer	Answer

d. The City recognizes the following expenditures, all on account (these expenditures were previously reserved as budgetary

encumbrances):

Expenditures--General Government	11,876
Expenditures--Public Safety	8,051
Expenditures--Education	46,305
Expenditures--Public Works	4,225
Expenditures--Human Services	8,051

Description	Debit	Credit
BUDGETARY FUND BALANCE	Answer	Answer
ENCUMBRANCES	Answer	Answer
To reverse previous entry.
Expenditures--general government	Answer	Answer
Expenditures--public safety	Answer	Answer
Expenditures--education	Answer	Answer
Expenditures--public works	Answer	Answer
AnswerESTIMATED REVENUESESTIMATED OTHER FINANCING SOURCESAPPROPRIATIONSENCUMBRANCESBUDGETARY FUND BALANCECashOther financing sources--proceeds from bond issueReal estate taxes receivableIntergovernmental fees receivableVouchers payableDeferred revenues--real estate taxesRevenues--real estate taxesRevenues--intergovernmentalExpenditures--human servicesExpenditures--debt principal paymentsFund balance--unassignedFund balance--assignedFund balance--nonspendable	Answer	Answer
AnswerESTIMATED REVENUESESTIMATED OTHER FINANCING SOURCESAPPROPRIATIONSENCUMBRANCESBUDGETARY FUND BALANCECashOther financing sources--proceeds from bond issueReal estate taxes receivableIntergovernmental fees receivableVouchers payableDeferred revenues--real estate taxesRevenues--real estate taxesRevenues--intergovernmentalExpenditures--human servicesExpenditures--debt principal paymentsFund balance--unassignedFund balance--assignedFund balance--nonspendable	Answer	Answer