For each of the summarized transactions for the Village of Sycamore General Fund, prepare the general ledger journal entries. a. The budget was formally adopted, providing for estimated revenues of $1,075,000 and appropriations of $1,005,000.
b. Revenues were received, all in cash, in the amount of $1,018,000.
c. Purchase orders were issued in the amount of $485,000. Of the $485,000 in (c), purchase orders were filled in the amount of $478,500; the invoice amount was $477,000 (not yet paid).
d. Expenditures for payroll not encumbered amounted to $517,000 (not yet paid).
e. Amounts from (d) and (e) are paid in cash