Using the information above, prepare

Journal entries

Statement of Revenues, Expenditures, and Changes in Fund Balance

Balance Sheet

Budgetary Comparison Schedule

Closing Entries

P4-39. (Complete accounting cycle and financial statements) The city council of E. Staatsboro approved the following budget for the General Fund for fiscal year 2019. $335,000 40,000 15,000 $390,000 Estimated Revenues Property taxes License fees... Fines and penalties Total revenues. Appropriations Salaries..... Supplies and utilities. Debt service Total appropriations..... Budgeted Increase in Fund Balance. $350,000 30,000 3,000 383,000 $ 7,000 The postclosing trial balance for the fund, as of December 31, 2018, was as follows: Debits Credits $15,000 Cash..... Vouchers payable. Fund balance (unassigned) $ 8,000 7,000 $15,000 $15.000 The following transactions and events occurred during FY 2019. 1. Levied property taxes of $335,000 and mailed tax bills to property owners. 2. Borrowed $300,000 on tax anticipation notes at an interest rate of 1 percent per annum. 3. Ordered supplies expected to cost $18,000. 4. The supplies arrived, along with an invoice for $19,000; the city paid the invoice immediately. 5. Received cash ($383,000) from the following sources: property taxes ($330,000), licenses and fees ($38,000), fines and penalties ($15,000). 6. Paid cash for the following purposes: unpaid vouchers at the start of year ($8,000); salaries ($340,000); utility bills ($11,000). 7. Repaid the tax anticipation notes 6 months after date of borrowing, with interest. 8. Processed a budgetary interchange, increasing the appropriation for supplies and utilities by $2,000 and reducing the appropriation for salaries by the same amount. 9. Will pay salaries for the last few days in December, amounting to $2,000, at the end of the first pay period in January 2020; also, received in early January 2020 a utilities invoice for $1,000 applicable to December 2019