The following information was abstracted from the accounts of the General Fund of the City of Miami after the books had been closed for the fiscal year ended June 30, 2020

Post-Closing TransactionsPost-closing

Trial BalanceJuly 1, 2019 toTrial Balance

June 30, 2020June 30, 2020June 30, 2020

DebitsCredits

Cash $700,000 $1,820,000$1,852,000$668,000

Taxes receivable 40,0001,880,0001,828,00092,000

$740,000$760,000

Allowance for $8,0008,00020,000$20,000

uncollectible taxes

Vouchers payable 132,0001,852,000 1,840,000 120,000

Fund Balance:

Encumbrances01,000,0001,070,00070.000

outstanding

Unreserved600,000140,00060,000

30,000 550,000

$740,000$760,000

Additional information:

The budget for the fiscal year ended June 30, 2020. provided for estimated revenues of $2,000,000 and appropriations of $1,940,000.Prepare journal entries to record the budgeted and actual transactions for the fiscal year ended June 30, 2020.