Encumbrances and payment Harmon School District's General Fund accounts for all revenues and expenditures. At the start of schoo

l year 2019 (which runs from July 1, 2018 to June 30, 2019) the fund balance is $280,000. The approved budget for 2019 follows. Estimated Revenues Property taxes $3,000,000 Intergovernmental revenues 900,000 Miscellaneous income 50,000 Appropriations Administration $ 300,000 Instruction 2,600,000 Pensions, other benefits 400,000 Transportation 200,000 Building maintenance 190,000 School supplies 220,000 All other expenditures 70,000 On August 10, 2018, Harmon School District issued a purchase order for school supplies in the amount of $50,000. On August 20, the school supplies arrived, together with an invoice for $52,000. The invoice was approved for payment because the purchase order allowed for price increases up to 5 percent. The invoice was paid on August 30. Prepare the entries necessary to record the encumbrance, approval for payment of the invoice, and payment of the invoice.

Business

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