[The following information applles to the questions displayed below.] The City of Lynnwood was recently Incorporated and had the following transactions for the fiscal year ended December 31. 1. The clty council adopted a General Fund budget for the fiscal year. Revenues were estimated at $2,170,000 and approprlations were $2,007,000. 2 Property taxes In the amount of $2,110,000 were leved. It is estimated that $17,500 of the taxes levled will be uncollectible. 3. A General Fund transfer of $33,500 in cash and $317,000 in equipment (with accumulated depreclation of $82,000 ) was made to establish a central duplicating internal service fund. 4. A citizen of Lynnwood donated marketable securltles with a falr value of $970,000. The donated resources are to be malntalned in perpetulty with the clty using the revenue generated by the donation to finance an after-school program for children, which is sponsored by the culture and recreation function. Revenue earned and recelved as of December 31 was $57,000. 5. The city's utlilty fund billed the clty's General Fund $142,000 for water and sewage services. As of December 31, the General Fund had pald $141,000 of the amount billed. 6. The central duplicating fund purchased $13,000 in supplies. 7. Cash collections recorded by the general government function during the year were as follows: 8. During the year, the internal service fund billed the clty's general government function $24,200 for duplicating services and it billed the city's utility fund $16,600 for services. 9. The city councll decided to bulld a clty hall at an estimated cost of $5,170,000. To finance the construction, 4 percent bonds were sold at the face value of $5,170,000. A contract for $4,670,000 has been signed for the project; however. no expenditures have been Incurred as of December 31. 10. The general government function Issued a purchase order for $40,500 for computer equipment When the equipment was recelved, a voucher for $33,600 was approved for payment and payment was made. Pequired Using the funds you identlfied in part a, prepare Journal entrles to properly record each transaction for the fiscal year ended ecember 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Transaction Fund or Activity General Journal Debit Credit 1. The city council adopted a General Fund budget for the fiscal year. Revenues were estimated at $2,170,000 and appropriations were $2,007,000. 4. A citizen of Lynnwood donated marketable securities with a fair value of $970,000. The donated resources are to be maintained in perpetuity with the city