The following information was available for the General Fund of the City of Thomasville for the Year Ended December 31, 2012:

(a) Revenues for the year included property taxes in the amount of $6,700,000, fines and forfeits in the amount of $1,200,000, and miscellaneous in the amount of $400,000.

(b) Expenditures from current appropriations included: general government, $4,600,000; public safety, $1,924,000; culture and recreation, $512,000.

(c) In addition to (b) above, expenditures related to prior year appropriations (encumbered last year) amounted to $40,000 (public safety). Encumbrances issued this year but not filled amounted to $60,000 (general government).

(d) A transfer was made from the General Fund to a debt service fund in the amount of $700,000. A transfer was made from an enterprise fund to the General Fund in the amount of $450,000.

(e) A sale of parkland was made during the year, which was considered infrequent but not unusual and under the control of management. The proceeds amounted to $400,000, and the land had a basis of $250,000 reported in the government-wide Statement of Net Assets the year before.

(f) Beginning balances included Fund Balance in the amount of $260,000 and Reserve for Encumbrances in the amount of $40,000.

Required:

Prepare journal entries for the transactions, and then prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance.