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PS- (GL and SL Entries; SL Trial Balance) The city of Asher had the following transactions, among others, in 20X7: 1. The council estimated that
PS- (GL and SL Entries; SL Trial Balance) The city of Asher had the following transactions, among others, in 20X7: 1. The council estimated that revenues of $210,000 would be generated for the General Fund in 20X7. The sources and amounts of expected revenues are as follows: 2. Property taxes of $152,000 were levied by the council; $2,000 of these taxes are expected to be uncollectible. 3. The council adopted a budget revision increasing the estimate of amusement licenses revenues by $2,000 and decreasing the estimate for business licenses revenues by $2,000. 4. The following collections were made by the city: 5. The resources of a discontinued Capital Projects Fund were transferred to the General Fund, 6. Enterprise Fund cash of $5,000 was paid to the General Fund to subsidize its operations. $4,800. Prepare general journal entries and budgetary entries to record the transactions in the General Ledger and Revenues Subsidiary Ledger accounts
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