using excel,Record the transactions using appropriate journal entries. Prepare a budgetary comparison schedule for the General Fund.

Following are transactions and events of the General Fund of the City of Springfield for the fiscal year ended December 31, 2015.

1.Estimated revenues (legally budgeted)

Property taxes	$5,700,000
Sales taxes	4,300,000
Licenses and permits	1,500,000
Miscellaneous	500,000

2.Appropriations

General government	$5,400,000
Culture and recreation	4,500,000
Health and welfare	1,000,000

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3.Revenues received (cash)

Property taxes	$5,285,000
Sales taxes	4,500,000
Licenses and permits	1,700,000
Miscellaneous	800,000

4.Encumbrances issued (includes salaries and other recurring items)

Estimated
General government	$5,300,000
Culture and recreation	4,650,000
Health and welfare	905,000

5.Goods and services received (paid in cash)

	Estimated	Actual
General government	$5,300,000	$5,296,000
Culture and recreation	4,650,000	4,610,000
Health and welfare	905,000	891,550

6.Budget revisions

Increase appropriations:
General government	$140,000
Culture and recreation	110,000

7.Fund balance on January 1, 2015, was $753,000. There were no outstanding encumbrances at that date.

a.Record the transactions using appropriate journal entries.

b.Prepare a budgetary comparison schedule for the General Fund.