On January 1, 2015, the first day of its fiscal year, the city of Carter received notification that a federal grant in the amonth of $650,000 was approved. Teh grant was restricted for the payment of wages for teenagers for summer employment. The terms of the grant permitted reimbursment only after qualified expenditures have been made; the grant could be used over a two-year period in equal amounts of 325,000 each. The following data pertain to operations of the Summer Employment Grant Fund, a special revenue fund of the City of Carter, durning the year ended December 31, 2015.

Show entries in general journal form to record the following events and tansactions in the accounts of the Summer Employment Grant Fund.

(1) The budget was recorded. It provided for Estimated Revenues for the year in the amount of 325,000, and for Appropriations in the amount of 325,000

(2) A temporary loan of 325,000 was received for the General Fund

(3) During the year, teenagers earned and were paid 316,000 under terms of the Summer Employment program. An additional 8,000 is accrued as payable on Decemeber 31. Recognize the receivable and revenue (include the 8,000 of wages payable)

(4) Each month a properly documented request for reimbusment was sent to the federal governemnt; checks for 298,000 were received.

(5) 290,000was repaid to the General Fund

(6) Necessary closing entries were made