record the following general fund journal entries, summarize them by account and prepare general fund balance sheet and statement of change in fund balance

1) the city council approved the following budget for fiscal year 2016 (july 1,2015 to june 30, 2016

Estimated Revenue

Property Taxes	750,000
Parking Meters	125,000
Business Licenses	50,000
Services	40,000
	965,00

APPROPRIATIONS

Personal Services	425,000
Contractual Services	150,000
Material and supplies	125,000
New Fire Truck	175,000
Other	35,000
	910,000

2) on july 1, 2015, the city assessor sent out the property tax bills of 747,000 of which 12,000 is expected o be uncollectable. the assesor assumes that theses taxes are both legally expendable and available during this fiscal year (i.e.they will becollected by yearend of shortly thereafter).

3)Purchase orders were sent out for the following items:

Material and Supplies	75,000
New Fire Truck	172,000
Other	25,000
	272,000

4)Parking meter cash receipts for the fiscal year were 129,000

5)Annual Business License Bills were sent out to all town registered businesses for 52,000

6) The city council revised the budgeted revenues by increasing business license income by 2000 and by increasing parking meter revenue by 5,000

7)in a special transaction the city competed a cash sale of a parcel of parkland to a private developer for 250,000

8)the general fund received a transfer from the special revenue fund for 50,000. There is no obligation on the part of the general fund to pay these funds back

9)The items ordered in number 3 above were delivered to the city. The following amounts represent the face value of the invoices and no further items are to be shipped to the city under these purchase orders. the invoices were then recorded as expenditures and vouchered for payment.

Material And Supplies	73,000
New fire Truck	180,000
Other	22,000
	275,000

10) The town council revised the budgeted appropriations for the new fire truck by increasing the amount 5,000

11) The general fund made a cash transfer to the capital projects fund of 42,000. This transaction is not to be treated as a loan or advance.

12)Service revenue of 40,000 was collected in cash for services rendered

13) Purchase orders were sent out the following items

Material and Supplies	50,000
Other	10,000
	60,000

14) The city prepared vouchers for the following expenditures

Pesonal services	415,000
Contractual Services	145,000

15) The city used cash to pay the vouchers in item 9

16) the city received 625,000 in cash collections from the property tax bills sent out in item 2