Required A Required B Required c Prepare journal entries for the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No Transaction General Journal Debit Credit 1 01 X 2 02 1,240,000 Estimated Revenues Appropriations Budgetary Fund Balance 1,237,200 2,800 3 03 Taxes Receivable 920,000 Estimated Revenues 920,000 4 04 Cash 1,190,000 Taxes Receivable Estimated Revenues 890,000 300,000 x 5 05 Encumbrances 97,000 Budgetary Fund Balance x 97,000 > 6 General Government Expenditures 85,200 Accounts Payable 85,200 7 6b Budgetary Fund Balance X 87,000 > 7 6b Budgetary Fund Balance 87,000 Encumbrances 87,000 8 07 968,000 General Government Expenditures Accounts Payable 968,000 9 08 1,100,000 Accounts Payable Cash 1,100,000 10 9 1,237,200 Appropriations Budgetary Fund Balance Estimated Revenues 00 2,800 1,240,000 11 9b Budgetary Fund Balance 10,000 Encumbrances 10,000 12 9c x 1,220,000 X Estimated Revenues General Government Expenditures Fund Balance x 882,800 397,200 X Required A Required B Required C Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund. CITY OF BUFFALO FALLS - GENERAL FUND Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 2020 Revenues: Property Taxes $ 890,000 X Other Revenues 300,000 1,190,000 Total Revenues Expenditures: Current: General Government Expenditures Other Expenditures Total Expenditures 85,200 968,000 1,053,200 136,800 X Other Financing Sources (Uses) Total Other Financing Sources (Uses) Net Change in Fund Balance Fund Balance, January 1 Fund Balance, December 31 232,000 232,000 $ Required A Required B Required c Prepare a Balance Sheet for the General Fund assuming there are no restricted or assigned net resources and outstanding encumbrances are committed by contractual obligation. (Leave no cells blank - be certain to enter 0" wherever required.) CITY OF BUFFALO FALLS General Fund Balance Sheet As of December 31, 2020 Assets Cash X Taxes Receivable Gross $ Total Assets Liabilities, Deferred Inflows, and Fund Balances Liabilities: Accounts Payable > X Total Liabilities 0 Fund Balances: Nonspendable Other Expenditures Committed Contract Services x X 0 Total Fund Balances Total Liabilities, Deferred Inflows, and Fund Balances $ 0