The following information was abstracted from the accounts of the general fund of the City of Lahti after the books had been closed for the fiscal year ended June 30, 2014:
| Transactions July 1, 2013, to June 30, 2014 | |||
| Trial Balance June 30, 2013 | Debit | Credit | Postclosing Trial Balance June 30, 2014 |
Cash | $700,000 | $1,820,000 | $1,852,000 | $668,000 |
Taxes receivable | 40,000 | 1,870,000 | 1,828,000 | 82,000 |
| $740,000 |
|
| $750,000 |
Allowances for uncollectible taxes | $8,000 | 8,000 | 10,000 | $10,000 |
Vouchers payable | 132,000 | 1,852,000 | 1,840,000 | 120,000 |
Fund balance: |
|
|
|
|
Committed | — | 1,000,000 | 1,070,000 | 70,000 |
Unassigned | 600,000 | 140,000 | 60,000 | a |
|
|
| 30,000 | 550,000 |
| $740,000 |
|
| $750,000 |
ADDITIONAL INFORMATION: The budget for the fiscal year ended June 30, 2014, provided for estimated revenues of $2,000,000 and appropriations of $1,940,000.
REQUIRED: Prepare journal entries to record the budgeted and actual transactions for the fiscal year ended June 30, 2014.
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