On July 1, 2018, the beginning of its fiscal year, the trial balance of the general fund of the city of Wentworth was as follows:

The following events occurred:
a. The budget shows estimated general fund revenues of $400,000 and estimated expenditures (including $16,000 encumbered in the prior year) of $362,000.
b. In July, the item ordered in the previous year was received at an invoice cost of $16,400. A voucher is prepared.
c. Property taxes amounting to $300,000 were levied, with 4% estimated to be uncollectible.
d. Cash collections during the year were as follows:
Current taxes . . . . .. . . . . . . . . . .. . . . . . .. . . . . . .. . . . . . .. . . . . . .. . . . . . .. . . . . . . $250,000
Delinquent taxes (in full settlement) . . . . . . . .. . . . . . .. . . . . . .. . . . . . .. . . . . . . . . 84,000
Interest and penalties on last year€™s taxes (in full settlement). . . . . . . .. . . . . . . . . . 7,600
Due from other funds . . . . . .. . . . . . . .. . . . . . .. . . . . . .. . . . . . .. . . . . . .. . . . . .. . . . 14,000
Total. . .. . . . . . .. . . . . . .. . . . . . . .. . . . . . .. . . . . . .. . . . . . .. . . . . . .. . . . . . .. . . . . . . $355,600
The controller wishes variations in estimates to be recorded in the appropriate revenue or expenditure account.
e. Purchase orders totaling $276,000 were placed. Later, invoices for $260,000 were received and vouchered; supplies inventory purchases were $16,000 of the total. The purchase covered $254,000 of the encumbrances.
f. Payrolls of $50,000 were paid. (Ignore payroll taxes and other deductions.) In addition, vouchers totaling $280,000 were paid.
g. An automobile was purchased for the fire department. It cost $16,000 and was not previously encumbered. The invoice is vouchered.
h. At year-end, $6,000 in supplies was on hand. There were no supplies on hand a year ago.
The city wishes to show the inventory and to establish a proper fund balance designation.
1. Prepare journal entries that would be made in the general fund for the above events.
2. Prepare closing entries.
3. Prepare a statement of revenues, expenditures, and changes in fund balance.

Debit Credit 20,000 Allowance for Uncollectible Delinquent Taxes . . .. .. . . _ . . . . . .. . .. Interest and Penalties Receivable on Taxes . . .. . _ . _ . . . . _ . _ . . . Allowance for Uncollectible Interest and Penalties . . . . _ . .. .. .. . Due from Other Funds . Vouchers Payable Fund Balance-Assigned 100,000 8,000 14,000 12,000 800 87,200 16,000 26,000 142,000 nassigned . . - 142,000