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 Transactions Post-closing Trial Balance July 1, 2019 to Trial Balance June 30, 2020 June 30, 2020 June 30, 2020 Debits Credits Cash $700,000 $1,820,000 $1,852,000 $668,000 Taxes receivable 40,000 1,880,000 1,828,000 92,000 $740,000 $760,000 Allowance for $ 8,000 8,000 20,000 $ 20,000 uncollectible taxes Vouchers payable 132,000 1,852,000 1,840,000 120,000 Fund Balance: Encumbrances 0 1,000,000 1,070,000 70.000 outstanding Unreserved 600,000 140,000 60,000 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.

Post-Closing Transactions Post-closing Trial Balance July 1, 2019 to Trial Balance June 30, 2020 June 30, 2020 June 30, 2020 Debits Credits Cash $700,000 $1,820,000 $1,852,000 $668,000 Taxes receivable 40,000 1,880,000 1,828,000 92,000 $740,000 $760,000 Allowance for $ 8,000 8,000 20,000 $ 20,000 uncollectible taxes Vouchers payable 132,000 1,852,000 1,840,000 120,000 Fund Balance: Encumbrances 0 1,000,000 1,070,000 70.000 outstanding Unreserved 600,000 140,000 60,000 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