A county's general fund reports fund balances totaling $4,000,000. Additional information for the general fund is as follows:
•Prepaid expenses are $300,000.
•Inventories total $800,000.
•Cash held from a federal grant designated for transportation safety projects totals $200,000.
•The legal budget requires that $900,000 be set aside for general debt payments.
•Outstanding purchase orders total $100,000.
Required
Prepare the county's fund balances section of the general fund balance sheet.

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The Answer of A county's general fund reports fund balances totaling $4,000,000. Additional information for the general fund is as follows:
•Prepaid expenses are $300,000.
•Inventories total $800,000.
•Cash held from a federal grant designated for transportation safety projects totals $200,000.
•The legal budget requires that $900,000 be set aside for general debt payments.
•Outstanding purchase orders total $100,000.
Required
Prepare the county's fund balances section of the general fund balance sheet.

A County's General Fund Reports Fund Balances Totaling $4,000,000