Required: a. Record journal entries for the following transactions for FY 2014. Make any computations to the nearest dollar. Journal entry explanations are not required. Use control accounts for revenues, expenditures and budgetary accounts. It is not necessary to reflect subsidiary ledger entries. (1) Encumbrances of $ 12,000 for purchase orders outstanding at the end of 2013 were re-established. (2) The January 1, 2014, balance in Deferred Revenues relates to the amount of the 2013 levy that was expected to be collected more than 60 days after December 31. This amount should be recognized as 2014 revenues. (3) A general tax levy in the amount of $6,350,000 was made. It is estimated that 2 percent of the tax will be uncollectible. (4) Tax anticipation notes in the amount of $400,000 were issued. (5) Goods and supplies related to all encumbrances outstanding as of December 31, 2013 were received, along with invoices amounting to $11,800; the invoices were approved for payment. The City maintains immaterial amounts in supply inventories and it is the practice of the City to charge supplies to expenditure when received. (6) All vouchers and the amount due other funds were paid. (7) The General Fund collected the following in cash: 0 prior year taxes, $160,000; 0 interest and penalties receivable on prior year taxes, $3,500; 0 current taxes, $5,900,000; o $210,000 previously recorded as due from the state government; 0 licenses and permits, $780,000; 0 sales taxes, $2,870,000; and 0 miscellaneous revenues, $330,000. 2