The Budgetary Comparison Schedule for the Town of Riverside appears below. Several items of information are missing (denoted with ?).

Required: a. Determine the missing amounts in a Budgetary Comparison Schedule provided.

b. During the year, the Town made a single budget revision, i.e., adopted an upward revision of $60,000 for the parks and recreation budget and reduced the estimated revenues from business licenses by $40,000. Prepare the general journal entry to record that revision.

Part a:

TOWN OF RIVERSIDE
Budgetary Comparison Schedule
General Fund
For the Year Ended December 31, 2020
	Budgeted Amounts		Actual Amounts (Budgetary Basis)	Variance with Final Budget Positive (Negative)
	Original	Final
Revenues:
Property Taxes	$745,441	$745,441	$748,000	$2,559
Business Licenses	179,559	?	130,000	?
Total Revenues	925,000	?	878,000	?
Expenditures and Encumbrances:
General Government	400,000	400,000	370,000	30,000
Parks and Recreation	120,000	?	181,000	?
Sanitation	100,000	100,000	102,100	(2,100)
Streets and Sidewalks	170,000	170,000	162,333	?
Total Expenditures and Encumbrances	790,000	?	815,433	?
Excess (Deficiency) of Revenues Over Expenditures and Encumbrances	135,000	35,000	62,567	?
Fund Balance, Beginning	54,000	54,000	54,000	?
Fund Balance, Ending	$189,000	$89,000	$116,567	?

	Accounts	Debits	Credits
Part b: