QUESTION 02: The following transactions relate to the General Pund of Ajman for the year ended Dec. 31, 2018: 1. Beginning balances were: Cash, $600.000; Taxes Receivable, $400,000, Accounts Payable, $500,000; and Fund Balance, 5500,000 2. The budget was passed. Estimated revenues amounted to $5,000,000 and appropriations totaled $2,200,000. All expenditures are classified as General Government 3. Contracts were issued for contracted services in the amount of $2,000,000 4. Contracted services were performed relating to $2,000,000 of the contracts with invoices amounting to $1,800,000 5. Taxes were levied in the amount of $2,500,000. All of the taxes are expected to be collected before February 2019. 6. Cash receipts totaled $2,000,000 for taxes and 51,000,000 from other revenue 7. Other expenditures amounted to $2,000,000 8. Accounts payable were paid in the amount of $2,500,000 Required: a. Prepare journal entries for the above transactions b. Prepare a Statement of Revenues, Expenditures, and Changes for the General Fund. e. Prepare a Statement of Net Position for the General Fund