**Please submit in an excel spreadsheet format. Thank you.

PROBLEM 17-4 Entries, Balance Sheet, Statement of Revenues, Expenditures, and Changes in Fund Balance Lot8 The trial balance for the General Fund of the City of Monte Vista as of December 31, 2012, is presented here Debit Credit Cash $300,000 Supplies Inventory Unreserved Fund Balance 75,000 $300,000 75,000 $375,000 Reserve for Supplies Inventory $375,000 Transactions of the General Fund for the year ended December 31, 2013, are summarized as follows: 1. The City Council adopted the following budget for 2013 Estimated revenue Transfer from trust fund Appropriations $1,600,000 50,000 1,530,000 80,000 Transfer to debt service fund 2. Property taxes of $1,500,000 were levied, of which it is estimated that $30,000 will not be collected. 3. Purchase orders in the amount of $1,400,000 were placed with suppliers and other vendors 4. Property taxes in the amount of $1,450,000 were collected. 5. Cash was received from the Trust Fund in the amount of $50,000. 6. Invoices in the amount of $1,380,000 were approved for payment. The amount originally encumbered for these invoices was $1,360,000. The invoices included $25,000 net of trade-in allowance for the purchase of a new minicomputer and $400,000 for supplies The City received a trade-in-allowance of $4,000 on its old minicomputer, which had been purchased three years earlier for $16,000. At the time the old minicomputer was pur- chased, it was estimated that it would have a useful life of four years. The new minicom- puter is expected to last at least six years. The City of Monte Vista uses the purchase method to account for supplies inventory 7. Licenses and fees in the amount of $48,000 were collected 8. Vouchers in the amount of $1,300,000 were paid 9. Cash in the amount of $80,000 was transferred to the Debt Service Fund. 10. Supplies on hand at the end of the year amount to $100,000 Required: A. Prepare entries in general journal form to record the transactions of the General Fund for the year ended December 31, 2013 B. Prepare a preclosing trial balance for the General Fund as of December 31, 2013