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3-12. Following are transactions and events of the General Fund of the City of Springfield for the fiscal year ended December 31, 2020. 1. Estimated revenues (legally budgeted) Property taxes $5,641,000 Sales taxes 4,830,000 1,500,000 Licenses and permits Miscellaneous 500,000 2. Appropriations General $5,285,000 government Culture and recreation 4,210,000 Health and welfare 1,000,000 3. Revenues received (cash) Page 79 3. Revenues received (cash) Page 79 Property taxes $5,545,000 Sales taxes 4,700,000 1,700,000 Licenses and permits Miscellaneous 800,000 4. Encumbrances issued (includes salaries and other recurring items) Estimated $5,275,000 General government Culture and recreation 4,630,000 Health and welfare 905,000 5. Goods and services received (paid in cash) Estimated Actual General $5,275,000 $5,285,000 government Culture and recreation 4,630,000 4,610,000 Health and welfare 905,000 5. Goods and services received (paid in cash) Estimated Actual General $5,275,000 $5,285,000 government Culture and recreation 4,630,000 4,610,000 Health and welfare 905,000 890,000 6. Budget revisions Increase appropriations: General government Culture and recreation $140,000 110,000 7. Fund balance on January 1, 2020, 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

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