Prapare jornal entry:

Assuming that the City of Katerah maintains its books and records in a manner that facilitates the preparation of the fund financial statements, prepare all necessary journal entries to record the City's revenues for the year ended 12/31/2018 The city adopted the 60-day rule for all revenue recognition for which it is appropriate. 1. On January 15, the City received notification that it was the recipient of a $350,000 federal grant to assist in the operation of its "Meals on Wheels' program. The federal government expects to send the cash in about 3 months. This is not a reimbursement type grant, and all eligibility requirements have been met. 2. In February the City spent $48,000 on "Meals on Wheels." 3. In March, fines of $2,600 were issued for parking tickets. Payment must be made within 30 days, when the City has an enforceable legal claim to the amounts. 4. In April, the City received the $350,000 from the federal government for the Meals on Wheels program. 5. Payments of $2,200 were received in April in payment of March parking tickets. $200 in tickets were contested and court dates have been set. The City expects that $100 in tickets will be uncollectible and the remaining amounts will be paid eventually 6. Restaurant licenses are issued for a one-year period. The licenses are valid for one year from July 1 to June 30 The lcense fees are used to pay restaurat inspectors In June $23,000 n restaurant license fees was received Journal Entries Dollar Amounts