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    general ledger journal entries

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    For each of the summarized transactions for the village of sycamore general fund prepare the general ledger journal entries, this year is January 1 â?" December 31, 2009.
    a. The budget was formally adopted providing for estimated revenues of $1,000,000 and appropriations of $980,000
    b. Revenues were received, all in cash, in the amount of $1,010,000
    c. Purchase orders were issued in the amount of $500,000
    d. Of the $500,000 in (c) purchase orders were filled in the amount of $490,000; the invoice amount was $480,000 not yet paid.

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    Solution Preview

    Transaction A
    DR: Estimated revenues 1,000,000
    CR: Appropriations 980,000
    CR: Budgetary fund ...

    Solution Summary

    This solution offers general ledger journal entries for this case.