Prepare the General Ledger journal entries and the Trial Balance for the General Fund for Smyth County for the year ended December 31, 2012 25 points for the entries and Bal,. Sheet Smyth Co. has the following beginning account balances in its General Fund as of Jan. 1, 2012. Debits Credits Fund Balance Accounts Payable Cash 1,100,000 $1,000,000 100,000 The following transactions occurred in the General Fund of Smyth County. Prepare the journal entry(s) as instructed for each. Assume each item is independent of each other.

A. The total estimated revenue budget for 2012 is $11,000,000 and the total appropriations for 2012 are $8,500,000. Total planned transfer to debt service funds for 2012 is $900,000. Record the budget (without subsidiary ledger detail).

B. On Feb. 1, Smyth County was able to get a Tax Anticipation Note that was secured by the countys power to tax. The county borrowed $400,000 and planned to repay the loan as tax collections begin to exceed current disbursements for the year.

C. On May 1, the county paid back the note payable with $10,600 in interest.

D. Property taxes of $ 7,000,000 were levied for Smyth County. Assume that 2.5 percent of these taxes are estimated to be uncollectible due to local economic conditions. Record the entry when the tax is levied.

E. A review of the Tax Receivable subsidiary ledger indicates the following: $20,000 would be received 120 days after year-end $42,000 would be received 90 days after year-end $25,000 would be received 60 days after year-end $21,000 would be received 30 days after year-end Record the property tax revenue deferred of $62,000 that is required by the GASB.

F. On Feb. 15, purchase orders were issued for supplies in the amount of $540,000. G. On April 15, supplies, relating to all of the prior year purchase orders ($400,000), were received along with invoices amounting to $397,000. M. Prepare an Interim Trial Balance assuming the beginning balances and entries a to g and the books have not been closed out.