The following transactions are for the City of Smallville. Prepare the appropriate journal entries.

Property taxes were levied against property owners in the city amounting to $30,000,000. Of this amount, the city expects that 10% will be uncollectible.

****Please complete in an excel sheet*******

Account	Debit	Credit

Of the amount of property taxes that the city expects to collect, 10% will not be received within 60 days after the year-end date.

Account	Debit	Credit

The city has a city-wide sales tax. During the year, the city received $4,000,000 in sales taxes.

Account	Debit	Credit

Additional sales taxes of $750,000 are expected to be received after the year's end. Of that amount, $50,000 will not be received in time to settle current-year liabilities.

Account	Debit	Credit

Smallville is entitled to receive a grant of up to $50,000 from the federal government for a social program. Under the grant, Smallville is to be reimbursed for expenditures incurred on the program. During the year, expenditures on the program totaled $45,000. Prepare the entry for the expenditures first (they were not encumbered).

Account	Debit	Credit

The Smallville city council just approved the budget for the new year. Revenues are estimated to be $85,000,000. Other financing sources are estimated to be $750,000. Other financing uses are estimated to be $100,000. And appropriations of $83,500,000 were approved.

Account	Debit	Credit

The Smallville city council revised its original budget. Revenues are now expected to be $900,000 less than originally budgeted, while expenditures are expected to be $1,000,000 more.

Account	Debit	Credit

Smallville ordered five personal computers for its office staff. The price was $600 each for a total of $3,000.

Account	Debit	Credit

Four of the computers ordered above were received. The other computer has been back-ordered. The invoice for the four that were received indicates a total cost, including sales tax, of $2,544.

Account	Debit	Credit