Prepare journal entries to record the following transactions and events applicable to the calendar year 2013 operations of Lily City:

1. The approved budget for the year follows:

Estimated Revenues

Property tax revenues....... $ 600,000

Licenses and fees .......30,000

Appropriations

Public safety salaries....... $ 550,000

Public safety, other expenditures.. 90,000

2. Property taxes of $ 600,000 were levied, and bills totaling that amount were mailed at the beginning of the year. During the year, $ 590,000 of property taxes were collected. Licenses and fees collected amounted to $ 28,000.

3. Salaries paid during the year amounted to $ 580,000; police officers earned an additional $ 12,000 during December that will be paid in January.

4. Purchase orders for supplies were placed in the amount of $ 60,000. The entire amount ordered was received during the year, together with invoices totaling $ 56,000. The invoices were approved for payment.