Reference no: EM132699135
The General Fund for the Village of Bath for the year ended December 31, 2018 had the following transactions:
a. The budget was formally adopted. Estimated revenues are $3,250,000 and appropriations are estimated to be $3,204,500.
b. Revenues were received in the amount of $3,256,500.
c. Purchase orders were issued in the amount of $1,690,000.
d. Purchase orders were filled in the amount of $1,436,500. The invoice amount was $1,443,000.
e. Expenditures, not encumbered, amounted to $1,352,000. (not yet paid)
f. Amounts from d and e are paid
Required:
Problem 1: Prepare journal entries to record these transaction
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