Prepare the entries to record the following general fund transactions for the village of Del Valley for the year ended September 30, 2018:
a. Revenues are estimated at $520,000; expenditures are estimated at $515,000.
b. A tax levy is set at $378,788, of which 1% will likely be uncollectible.
c. Purchase orders amounting to $240,000 are authorized.
d. Tax receipts total $280,000.
e. Invoices totaling $225,000 are received and vouchered for orders originally estimated at $223,000.
f. Salaries amounting to $135,000 are approved for payment.
g. A state grant-in-aid of $100,000 is received.
h. Fines and penalties of $10,000 are collected.
i. Property for a village park is purchased, costing $120,000. No encumbrance had been made for this item.
j. Additional recreational property valued at $88,000 is donated.
k. Amounts of $12,000 due to other village funds are approved for payment.
l. The village’s share of sales tax due from the state is$30,000.Payment will be received in 30days.
m. Vouchers totaling $175,000 are paid.
n. Accounts are closed at year-end.