The Town of Riley Ridge Is a Small Residential Community

The Town of Riley Ridge is a small residential community. The Town has two revenue sources, property taxes and charges for service; and two programs, administration and public safety. The Town's fiscal year 2020 budget follows:
Town of Riley Ridge
General Fund
Operating Budget
Fiscal Year 2020
$\begin{array}{lr}\text { Estimated Revenues }\\\text { Property taxes } & \$ 1,900,000 \\\text { Charges for services } & 360,000&\$2,260,000\\\\\text { Appropriations }\\\text { Administration } & \$ 320,000 \\\text { Public safety } & 1,800,000 \\&2,120,000\\\\\text { Budgeted Increase in Fund Balance }&&\$140,000\end{array}$ Operating transactions during the year consist of the following:
$\begin{array}{l}\text { 1) Placed orders for materials and supplies for: }\\\text { Administration } & 316,000 \\\text { Public safety } & 1,440,000\\\text { 2) Collected revenues of: }\\\text { Property taxes } & 1,900,000 \\\text { Charges for services } & 287,500 \\\text { (assume no property tax receivable recorded) } &\\\text { 3) Received some items on order (\#1 above) for: }\\\text { Administration } & 200,000 \\\text { Public safety } & 730,000\\\text { 4) Paid invoice for items received ( } \# 3 \text { above) for: }\\\text { Administration } & 201,000 \\\text { Public safety } & 730,000\\\text { 5) Received remaining items on order (\#1 above) for: }\\\text { Administration } & 116,000 \\\text { Public safety } & -\\\text { 6) Paid invoice for items received ( } \# 5 \text { above) for: }\\\text { Administration }&114,000\\\text { Public safety }&-\\\text { 7) Collected revenues of: }\\\text { Property taxes }&- \\\text { Charges for services }&81,000\end{array}$ Required:
A. Prepare the general journal entries necessary to record the budget and to record the operating transactions in 1 through 7, above.
B. Post the details of the budgetary entry and the operating entries to the revenues subsidiary ledger and the appropriations subsidiary ledger, as applicable. Subsidiary ledgers are provided below for your use. Town of Riley Ridge
General Fund / Revenues Ledger
Fiscal Year 2020
Source: Property Taxes
$\begin{array}{|l|l|c|c|c|}\hline \begin{array}{l}\text { Entry } \\\text { no. }\end{array} & \text { Item } & \begin{array}{c}\text { Estimated Revenue } \\\mathrm{Dr}\end{array} & \begin{array}{c}\text { Actual Revenue } \\\mathrm{Cr}\end{array} & \begin{array}{c}\text { Difference } \\\mathrm{Dr}(\mathrm{Cr})\end{array} \\\hline & & & & \\\hline & & & & \\\hline\end{array}$
Source: Charges for services
$\begin{array}{|l|l|c|c|c|}\hline \begin{array}{l}\text { Entry } \\\text { no. }\end{array} & \text { Item } & \begin{array}{c}\text { Estimated Revenue } \\\mathrm{Dr}\end{array} & \begin{array}{c}\text { Actual Revenue } \\\mathrm{Cr}\end{array} & \begin{array}{c}\text { Difference } \\\mathrm{Dr}(\mathrm{Cr})\end{array} \\\hline & & & & \\\hline & & & & \\\hline\end{array}$ General Fund / Appropriations Ledger
Fiscal Year 2020
Function: Administration
$\begin{array}{|l|l|l|l|l|l|l|}\hline \begin{array}{l}\text { Entry } \\\text { no. }\end{array} & \text { Item } &{\begin{array}{c}\text { Appropriation } \\\mathrm{Cr}\end{array}} &{\begin{array}{c}\text { Encumbrances } \\\mathrm{Dr}\end{array}} &{\begin{array}{c}\text { Expenditures } \\\mathrm{Dr}\end{array}} &\text { Cr }& \begin{array}{c}\text { Available } \\\text { Appropriation } \\\text { Cr }\end{array} \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline\end{array}$
Function: Public Safety
$\begin{array}{|l|l|l|l|l|l|l|}\hline \begin{array}{l}\text { Entry } \\\text { no. }\end{array} & \text { Item } &{\begin{array}{c}\text { Appropriation } \\\mathrm{Cr}\end{array}} &{\begin{array}{c}\text { Encumbrances } \\\mathrm{Dr}\end{array}} &{\begin{array}{c}\text { Expenditures } \\\mathrm{Dr}\end{array}} &\text { Cr }& \begin{array}{c}\text { Available } \\\text { Appropriation } \\\text { Cr }\end{array} \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline\end{array}$ ?