The Town General Fund Operating Budget Fiscal Year 20XX Estimated Revenues Property taxes $1,900,000 Charge for services 360,000 $2.260.000 Appropriations General Government Health and Sanitation Budgeted Increase in Fund Balance $320.000 1,800,000 2,120,000 $140,000 Operating transactions during the year consist of the following: 1. Placed orders for materials and supplies for $1,756,000 Follo Operating transactions during the year consist of the following: 1. Placed orders for materials and supplies for $1.756,000 2. Collected revenues of $2,187,500 3. Received items on order for $930,000 4. Paid cash for items received for $931,000 5. Received items on order for $116.000 6. Paid cash for items received for $114,000 7. Collected revenues of $81,000 Prepare the general journal entries necessary to record the budget and operating transactions 1-7.