On August 10, 2012, the school district in exercise E4- 2 issued a purchase order for school supplies in the amount of $ 50,000. On August 20 the school supplies arrived, together with an invoice for $ 51,000. The invoice was approved for payment because the purchase order allowed for price increases up to 5 percent. The invoice was paid on August 30. Prepare the entries necessary to record the encumbrance, approval for payment of the invoice, and payment of the invoice.

In exercise E4- 2

Estimated Revenues

Property taxes............ $ 3,600,000

Investment income.......... 100,000

Miscellaneous income......... 50,000

Appropriations

Administration........... $ 300,000

Instruction............. 2,400,000

Pensions, other benefits....... 350,000

Transportation ........... 200,000

Building maintenance ....... 150,000

School supplies ............ 180,000

Debt service........... 160,000

All other expenditures ........ 70,000