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 $2,884,000 as follows: property taxes, $1,964,000, licenses and permits, $390,000, fines and forfeits. $290,000; and intergovernmental (state grants), $240,000. The budget approved appropriations of $2,826,000 as follows: General Government, $540,000, Public Safety, $1,680,000 : Public Works, $390,000; Culture and Recreation, $158,000; and Miscellaneous, $58,000 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 $39,000 for licenses and permits and $16,000 for fines and forfeits. 2. Supplies were ordered by the following functions in early July at the estimated costs shown: 3. During July, supplies were recelved at the actual costs shown below and were paid in cash, General Government, Culture and 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 recelved part of the supplies ordered earlier in the month at estimated costs of $11,500 and $6,700, respectively. Journal entry worksheet Record the Town of Bedford Falls's General Fund operating budget on July 1 , the beginning of the Town's fiscal year. Notes. Enterdebits befote credits. Journal entry worksheet 5 Record the Town of Bedford Falls's General Fund operating budget on July 1 , the beginning of the Town's fiscal year. Note: Enter debits before credits. Journal entry worksheet 5 Revenues were collected in cash amounting to $39,000 for licenses and permits and $16,000 for fines and forfeits. Note: Enter debits before credits. Journal entry worksheet Record the issuance of the purchase orders and contracts. Note: Enter debits before credits. Journal entry worksheet Record the reversal of the purchase orders. Note: Enter debits before credits. Journal entry worksheet