Q1- Tiny Town that performs a single function (public safety) and has only a single department (the Police Department). The approved budget for the General Fund for 20-- is as follows: The events and transactions for January 2012 are as follows: January 2 The budget is recorded. 3 Property taxes of 450,000 are received in cash. 8 Two police cars are ordered at an estimated total cost of 36,000 12 Police cars ordered Jan. 8 are received at an invoiced cost of 35,000 15 Miscellaneous revenues totaling 75,000 are received in cash. 16 Two more police cars are ordered at an estimated total cost of 54,000 21 Police cars ordered Jan. 16 are received with an invoice for 55,000 22 Property taxes of 299,500 are received in cash. 25 Materials are ordered with an expected cost of 150,000 28 The ordered materials are received along with an invoice for 155,000 31 Payday for Tiny Town's employees is the last day of the month; salaries of 60,000 are paid. Record the above transactions in General Journal and post them in Revenues Ledger and Appropriations Ledger