The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020: 1. Beginning balances were: Cash, $106,000; Taxes Receivable, $209,000; Accounts Payable, $62,000; and Fund Balance, $253,000. 2. The budget was passed. Estimated revenues amounted to $1,360,000 and appropriations totaled $1,354,800. All expenditures are classified as General Government. 3. Property taxes were levied in the amount of $980,000. All of the taxes are expected to be collected before February 2021. 4. Cash receipts totaled $950,000 for property taxes and $330,000 from other revenue. 5. Contracts were issued for contracted services in the amount of $118,000. 6. Contracted services were performed relating to $105,000 of the contracts with invoices amounting to $100,800. 7. Other expenditures amounted to $1,022,000. 8. Accounts payable were paid in the amount of $1,179,500. 9. The books were closed. Required: a. Prepare journal entries for the above transactions