The Town General Fund Operating Budget Fiscal Year 20xx Estimated Revenues Property taxes $1.900.000 Charge for services 360.000 $21260,000 Appropriations General Government $320,000 Health and Sanitation 1.800.000 2,120,000 Budgeted Increase in Fund Balance $140,000 Operating transactions during the year consist of the following: 1. Placed orders for materials and supplies for $1.756,000 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