Part C: The Johnson City's legislative group approved a General Fund operating budget for the fiscal year ending June 30, 2017. The budget provides for estimated revenues of $2,700,000 $1,900,000; licenses and permits, $350,000; fines and forfeits, $250,000; and intergovernmental (state grants), $200,000. The budget approved appropriations of $2,650,000 as follows: General Government, $500,000; Public Safety, $1,600,000; Public Works, $350,000; Culture and Recreation, $150,000, and Miscellaneous, $50,000. as follows: property taxes Required Prepare the journal entry (or entries), to record the Johnson City's General Fund operating budget on July 1, 2016, the beginning of the town's 2017 fiscal year Record the following transactions that occurred during the month of July 2016. fines and forfeits. Supplies were ordered by the following functions in early July 2016 at the estimated costs shown: . 1. Revenues were collected in cash amounting to $31,000 for licenses and permits and $12,000 for 2. General 7,400 Government Public Safety Public Works Culture and 11,300 6,100 4,200 Recreation Miscellaneous 900 Total 29,900