The following summary of transactions was taken from the accounts of the Madras School District General Fund before the books were closed for the fiscal year ended June 30, 2013:

Additional Information:
1. Property taxes in the amount of $2,870,000 were assessed for the year. Taxes collected during the year totaled $2,810,000.
2. An analysis of the transactions in the vouchers payable account for the year ended June
30, 2013, follows:
Debit (Credit)
Current expenditures............. $(2,700,000)
Expenditures for prior year............. (58,000)
Vouchers for payment to other funds ........ (210,000)
Cash payments during year ........... 2,640,000
Net change................... $ (328,000)
3. During the year the General Fund was billed $142,000 for services performed on its behalf by other city funds.
4. On May 2, 2013, commitment documents were issued for the purchase of new textbooks at a cost of $91,000.

Required:
On the basis of the data presented, reconstruct the original detailed journal entries that were required to record all transactions for the fiscal year ended June 30, 2013, including the recording of the current year€™s budget. Do not prepare closing entries at June 30,2013.

Transcribed Image Text:

Postclosing Balances June 30, 2012 $400,000 150,000 Preclosing Balances June 30, 2013 $ 700,000 170,000 Cash Property tax receivable Estimated uncollectible taxes Estimated revenue (40,000) (70,000) 3,000,000 2,842,000 Expenditures Expenditures prior year Encumbrances 91,000 $6,733,000 $510,000 Vouchers payable Due to other funds Reserve for encumbrances Unreseryed fund balance Revenue from taxes Miscellaneous revenue Appropriations $408,000 142,000 91,000 182,000 2,800,000 130,000 2,980,000 $6,733,000 80,000 210,000 60,000 160,000 510,000