P10.5 General Fund-Corrections, Adjustments, and Financial Statements ending June 30, 2020, al transactions of Salleytown...
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P10.5 General Fund-Corrections, Adjustments, and Financial Statements ending June 30, 2020, al transactions of Salleytown were recorded in the general fund due to the inexpe rience of the town's bookkeeper. The trial balance of Salleytown's general fund is as follows During the fiscal year SALLEYTOWN General Fund Trial Balance June 30, 2020 in thousands) Debit Credit $ 16,800 40,000 11,500 30,000 Cash Short-term investments Accounts receivable Taxes receivable-current Accounts payable Appropriations Expenditures Estimated revenues Revenues General property Bonds payable Fund balance-unassigned Totals $50,000 520,000 382.000 520,000 560,000 85,400 52,000 7,700 .$1,137,700 $1,137,700 The following information is also available (in thousands) . The accounts receivable of S11,500 includes $1.500 due from the town's water utility. Accounts for the municipal water utility operated by the town are maintained in a separate fund
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