The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020:

Beginning balances were: Cash, $96,000; Taxes Receivable, $194,000; Accounts Payable, $54,500; and Fund Balance, $235,500.

The budget was passed. Estimated revenues amounted to $1,260,000 and appropriations totaled $1,256,800. All expenditures are classified as General Government.

Property taxes were levied in the amount of $930,000. All of the taxes are expected to be collected before February 2021.

Cash receipts totaled $900,000 for property taxes and $305,000 from other revenue.

Contracts were issued for contracted services in the amount of $100,500.

Contracted services were performed relating to $90,000 of the contracts with invoices amounting to $87,800.

Other expenditures amounted to $977,000.

Accounts payable were paid in the amount of $1,115,000.

The books were closed.

Required: a. Prepare journal entries for the above transactions. b. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund. c. Prepare a Balance Sheet for the General Fund, assuming there are no restricted or assigned net resources and outstanding encumbrances are committed by contractual obligation.