[solved]-A City Adopted The Following Budget For Its General Fund

A city adopted the following budget for its General Fund for 2013. Prepare the journal entry to record the budget.

Estimated Revenues

Property taxes………. $ 9,500,000

Sales taxes …………1,835,000

Fines and forfeits………. 65,500

Intergovernmental………. 1,455,250

……………..$ 12,855,750

Appropriations

Administration………. $ 2,250,000

Public safety………. 4,770,500

Parks and recreation ……..1,150,000

Streets …………..3,435,000

Libraries …………..900,000

……………..$ 12,505,500

Expert Answer

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