The Town of Bedford Falls approved a General Fund operating budget for the fiscal year beginning on July 1. The budget provides for estimated revenues of $2,746,000 as follows: property taxes, $1,916,000; licenses and permits, $360,000; fines and forfeits $260,000; and intergovernmental (state grants), $210,000. The budget approved appropriations of $2,694,000 as follows: General Government, $510,000; Public Safety, $1,620,000; Public Works, $360,000; Culture and Recreation, $152,000; and Miscellaneous, $52,000 Required a. & b. Prepare the journal entry (or entries), to record the Town of Bedford Falls's General Fund operating budget on July 1, the beginning of the Town's fiscal year and also record the following transactions that occurred during the month of July. Also show entries in the subsidiary ledger accounts, to record the Town of Bedford Falls's General Fund operating budget on July 1, the beginning of the Town's fiscal year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1. Revenues were collected in cash amounting to $33,000 for licenses and permits and $13,000 for fines and forfeits. 2. Supplies were ordered by the following functions in early July at the estimated costs shown General Government Public Safety Public Works Culture and Recreation iscelLaneous Total $ 7,600 11,700 6,300 4,400 1,100 $31,100 3. During July, supplies were received at the actual costs shown below and were paid in cash. General Government, Culture and Recreation, and Miscellaneous received all supplies ordered. Public Safety and Public Works received part of the supplies ordered earlier in the month at estimated costs of $10,900 and $6,100, respectively. Actual Estimated Os Cost General Government Public Safety Public Works Culture and Recreation Miscellaneous Total $7,500 7,600 10,900 6,100 4,400 ,100 $30,200 $30,100 11,000 6,300 4,300 1,100 View transaction list View journal entry worksheet No Event General Journal Debit Credit a Estimated Revenues 2,746,000 Budgetary Fund Balance Appropriations 52,000 2,694,000 No Transaction Recorded TOWN OF BEDFORD FALLS Revenues Ledger Revenues Cr (Dr) Est Re venues Dr (Cr) Account Description Balance Dr (Cr) Taxes Budget Licenses and Permits Budget Cash collected Fines and Forfeits Budget Cash collected Intergovernemental Revenues Budget TOWN OF BEDFORD FALLS Appropriations, Expenditures, and Encumbrances Ledger Encumbrances Expenditures Balance Dr (Cr) Balance Dr (Cr) Appropriations Cr (Dr) Balance Cr (Dr) Account/Description Increase Dr Decrease Cr General Government Appropriations Order of Supplies Supplies received Public Safety Appropriations Order of Supplies Supplies received Public Works Appropriations Order of Supplies Supplies received Culture and Recreation Appropriations Order of Supplies Supplies received Miscellaneous Appropriations Order of Supplies Supplies received c. Calculate the amount of budgeted but unrealized revenues in total and from each source as of July 31. (Input all amounts as positive values.) Unrealized Revenue Source Budgeted Actual Property Taxes Licenses and Permits Fines and Forfeits Intergovernmental Total d. Calculate the amount of available appropriation in total and for each function as of July 31.(Input all amounts as positive values.) Available Appropriations Appropriations Encumbrances Expenditures General Government Public Safety Public Works Culture and Recreatio Miscellaneous Total