a. Journal entries include: 1. Estimated revenues (Dr.) $100,000, Estimated other financing sources (Dr.) $50,000, Appropriations (Cr.) $125,000, Fund Balance Budget (Cr.) $25,000. 2. Cash (Dr.) $50,000, General Fund Transfer (Cr.) $50,000. 3. Property Tax receivable (Dr.) $100,000, Uncollectible Taxes (Cr.) $5,000, Collectable Property taxes revenue (Cr.) $95,000. 4. Cash (Dr.) $60,000, Collectable property tax revenue (Cr.) $60,000. 5. Cash (Dr.) $1,000, Revenue From Investments (Cr.) $1,000. 6. Cash (Dr.) $30,000, Collectable property tax revenue (Cr.) $30,000. 7. Interest expense (Dr.) $37,500, Interest Payable (Cr.) $37,500. 8. Fiscal Agent fee (Dr.) $500, Cash (Cr.) $500. 9. Cash (Dr.) $1,000, Investment Revenue (Cr.) $1,000. 10. Interest Expense (Dr.) $37,500, Principal payment (Dr.) $50,000, [Fiscal Agent] Cash (Cr.) $87,500. 11. Investment Revenue Receivable (Dr.) $500, Investment Revenue (Cr.) $500. b. Trial Balance: Debit (Dr.) $; Credit (Cr.) $; Cash: 76,500; 0; Property Taxes receivable 10,000; 0; Allowance for uncollectable property 0; 5,000; Investments 40,000; 0; Investment revenue receivable 500; 0; Restricted fund balance 0; 100,000; Revenue - property taxes 0; 95,000; Revenue- Investments 0; 2,500; Transfer to general fund 0; 50,000; Interest Expense 75,000; 0; Bond principal 50,000; 0; Fiscal agent fees 500; 0; Estimated revenues 100,000; 0; Estimated other financing sources 50,000; 0; Appropriations 0; 125,000; Fund balance Budget 0; 25,000.
