Please help with the red section I got incorrect.

The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020:

1. Beginning balances were: Cash, $109,000; Taxes Receivable, $213,500; Accounts Payable, $64,250; and Fund Balance, $258,250.
2. The budget was passed. Estimated revenues amounted to $1,390,000 and appropriations totaled $1,384,200. All expenditures are classified as General Government.
3. Property taxes were levied in the amount of $995,000. All of the taxes are expected to be collected before February 2021.
4. Cash receipts totaled $965,000 for property taxes and $337,500 from other revenue.
5. Contracts were issued for contracted services in the amount of $123,250.
6. Contracted services were performed relating to $109,500 of the contracts with invoices amounting to $104,700.
7. Other expenditures amounted to $1,035,500.
8. Accounts payable were paid in the amount of $1,202,000.
9. The books were closed.

Required: a. Prepare journal entries for the above transactions. b. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund. c. Prepare a Balance Sheet for the General Fund assuming there are no restricted or assigned net resources and outstanding encumbrances are committed by contractual obligation.

No Transaction General Journal Debit Credit 1 01 No Journal Entry Required 2 02 1,390,000 Estimated Revenues Appropriations Budgetary Fund Balance OO 1,384,200 5,800 3 03 995,000 Taxes Receivable Estimated Revenues XO 995,000 4 04 Cash 1,302,500 X Estimated Revenues Taxes Receivable 337,500 965,000 5 05 Encumbrances 123,250 Budgetary Fund Balance-Reserve for Encumbrances 123,250 6 Budgetary Fund Balance Reserve for Encumbrances 104.700 Encumbrances X 104.700 7 7 6b General Government Expenditures 109,500 * Accounts Payable 109,500 8 07 1,035,500 General Government Expenditures Accounts Payable O 1,035,500 9 9 08 1,202,000 Accounts Payable Cash 1,202,000 oo OOO 10 9a Appropriations Budgetary Fund Balance Estimated Revenues 1,384,200 5,800 1,390,000 11 9b Budgetary Fund Balance-Reserve for Encumbrances 13,750 Encumbrances 13.750 12 9c x 1,332,500 X Estimated Revenues General Government Expenditures Fund Balance x 1.140.200 192,300 X Required A Required B > Required A Required B Required C Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund. CITY OF BUFFALO FALLS - GENERAL FUND Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 2020 Revenues: Property Taxes $ 995,000 Other Revenues 337,500 Total Revenues 1,332,500 Expenditures: Current: General Government Expenditures Other Expenditures Total Expenditures Excess of Revenues Over Expenditures Other Financing Sources (Uses) Total Other Financing Sources (Uses) Net Change in Fund Balance Fund Balance, January 1 Fund Balance, December 31 104,700 X 1,035,500 1.140,200 192,300 258,250 X 450,550 X 708,800 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect: no points deducted