Prepare journal entries for the City of Toledos governmental funds to record the following transactions, first for the fund financial statements and then for government-wide financial statements. Indicate which fund is used for each fund-based transaction.

a. The town council adopts an annual budget for the general fund estimating general revenues of $1.7 million, approved expenditures of $1.5 million, and approved transfers out of $120,000.

b. The town levies property taxes of $1.3 million. It expects to collect all but 3 percent of these taxes during the year.

c. The town orders two new police cars at an approximate cost of $110,000.

d. A transfer of $50,000 is made from the general fund to the debt service fund.

e. The two police cars are received with an invoice price of $112,000. The voucher has been approved but not yet paid.

f. Depreciation on the new police cars is computed as $30,000 for the period.

g. The town receives a $10,000 cash grant to beautify a local park. The grant must be used to cover the specific costs that the town incurs.

h. The town spends the first $4,000 to beautify the park