Journal entries for year-end adjustments The chief accountant for Ramsey City needed to make adjusting entries before preparing the citys financial statements for calendar year 2022. She wrote a brief paragraph to guide her assistant in making the adjusting entries for the General Fund and then gave her assistant data regarding the accounts that might be affected by the adjustments. Use the following information to make the year-end adjusting journal entries, if needed. Identify the expenditure accounts at the object-of-expenditure level.

1. At December 31, the Property taxes receivable account showed a balance of $441,000, all of which was considered to be collectible. She estimated that $330,750 of that amount would be collected in the first 60 days of 2023.

2. The Health Department has a state grant that requires it to incur expenditures before the city can bill for the grant. The Department incurred $47,250 of expenditures under the grant during the last quarter of 2022 and sent a billing to the state, but the billing has not been recorded. (Make the journal entry to record the billing to the state.)

3. During the last week in December, Ramseys employees earned $84,000. They will be paid with the first paycheck in 2023.

4. The city received an invoice for $15,750 from its Electricity Proprietary Fund for December electricity services. The invoice, which has not yet been entered in the records, will be paid in early February.

5. City employees are allowed to accumulate up to 30 days vacation leave and to get cash for unused leave when they are terminated or retire. The total liability to city employees for earned, but unused, vacation leave increased from $1,270,500 to $1,354,500 during 2022. Two employees retired during the last week of December and will be paid $23,100 for unused leave with their final paychecks in January.

6. Numerous claims have been filed against the city for incidents attributed to several of its departments. Discussions with city attorneys who have been handling the cases indicate that the city could ultimately pay out $1,942,500 in judgments or settlements, an increase of $105,000 over last year's estimate. As of December 31, settlements amounting to $36,750 were reached with two claimants. They will be paid in January.

7. The city operates a Pension Trust Fund to pay employee benefits. The plan has assets sufficient to pay for 85 percent of its long-term pension obligations. The city actuary recommended that the city contribute $997,500 to the Trust Fund in 2022. However, the city council appropriated only $315,000. That amount was paid to the Trust Fund in October, and the council made no further appropriation for the year.

8. The city Health Department has a state grant that must be used for a specific purpose, but there are no requirements as to when the grant resources may be used. At December 31, 2022, the unspent balance of the grant was $56,700.