The following budgetary events occurred in Marilyn County during calendar year 2013: 1. The legislature approved the following budget:

Estimated Revenues

Property taxes......... $ 1,000,000

Sales taxes ..........2,900,000

Appropriations

General government— salaries ..$ 800,000

General government— all other... 400,000

Parks— salaries......... 2,000,000

Parks— all other .......600,000

2. Because a special event necessitated hiring temporary personnel, the legislature approved a budgetary interchange, authorizing the Parks Department to spend an additional $ 60,000 in salaries and reducing the Parks Department appropriation for “ all other” by an equal amount.

3. Based on a mid- year review of the impact of the economy on tax revenues, the finance commissioner estimated that sales tax collections would be $ 125,000 less than the estimate used in preparing the original budget. The legislature revised the budget by reducing estimated sales tax revenues by $ 125,000 and reducing the appropriation for General government— all other by $ 75,000.

Prepare journal entries to record these events. Also, prepare a two- column schedule showing the original adopted budget and the final budget. ( The final budget will show the effects of the two budget revisions. The line showing the difference between estimated revenues and appropriations should be captioned “Excess of estimated revenues over appropriations.”)