Make all required General Fund journal entries for the Miami Public Schools for

20X2, including adjusting entries, required by the following information.

1. The Board of Education adopted the 20X2 General Fund budget

presented by at its final meeting of 20X2. Budgeted revenues were $57 million

and appropriations totaled $55.5 million. Record the budget as of the beginning

of the 20X2 fiscal year.

2. Miami Public Schools levied property taxes of $25.8 million. Two percent

is expected to be uncollectible.

3. Taxes of $20 million were collected prior to the due date. The remainder

of the taxes became past due.

4. Purchased investments in bonds at January 1, 20X2, for $350,000.

5. $755,000 of taxes were collected after the due date but prior to year end,

which is December 31st.

6. $250,000 of taxes were collected in January 20X3, $150,000 in February,

and $75,000 in March 20X3.

7. Received interest of $25,000 at December 31, 20X2.