The board of commissioners of the city of hartmoore adopted a general fund budget for the year ending june 30, 2017, that included revenues of $1,432,500, bond proceeds of $427,500, appropriations of $980,000, and operating transfers out of $480,000. if this budget is formally integrated into the accounting records, what journal entry is required at the beginning of the year? if this budget is formally integrated into the accounting records, what later entry is required?

An allergy products superstore buys 6000 of their most popular model of air filters each year. the price of the air filters is $18. the cost of ordering and receiving shipments is $12 per order. accounting estimates annual carrying costs are 20% of the price. the supplier lead time is 2 days. the store operates 240 days per year. each order is received from the supplier in a single delivery. there are no quantity discounts. what is the store’s minimum total annual cost of placing orders & carrying inventory?