journal entries balance sheet the january 2 20×8 trial balance of croix township fol 614417

Journal entries, balance sheet. The January 2, 20X8 trial balance of Croix Township follows:

	Debit	Credit
Cash	45,000
Taxes Receivable—Delinquent	20,000
Allowance for Uncollectible Delinquent Taxes		2,000
Tax Liens Receivable	4,000
Allowance for Uncollectible Tax Liens		1,000
Due from Parks Fund	12,000
Inventory of Supplies	5,000
Vouchers Payable		43,000
Due to Utility Fund		4,000
Fund Balance—Reserved for Supplies Inventory		5,000
Fund Balance—Unreserved, Undesignated		31,000
Total	86,000	86,000

The following events occurred during the first six months of 20X8:

a. The adopted budget showed the following:

Estimated expenditures	$620,000
Transfers to other funds	27,000
Estimated revenues	655,000

b. Six-month tax anticipation notes were issued in the amount of $120,000.

c. Property taxes of $430,000 were levied, with 2% of the gross levy considered uncollectible.

d. Tax liens proved uncollectible. The property was foreclosed and sold for $4,000.

e. Amounts encumbered totaled $250,000.

f. Cash collected:

All delinquent property taxes	$ 20,000
Current taxes	290,000
Due from Parks Fund	11,000
Fines and penalties	23,000
	$344,000

g. Items vouchered totaled $186,000, representing $183,000 of encumbrances. Included in both were $26,000 for supplies, for which a perpetual inventory system is maintained.

h. Cash payments:

Vouchered items	$151,000
Nonvouchered items that were not encumbered	49,000
Due to Utility Fund	4,000
	$204,000

i. Supplies inventory on June 30 was $21,000.

1. Using the format below, complete the general fund worksheet for the six months ended June 30, 20X8. Ignore entries for any other fund or group. Label entries on the worksheet according to their corresponding events. Formal journal entries are not required.

2. Prepare a balance sheet as of June 30, 20X8.

	Trial Balance		Operating Entries		Revenue and Expenditures			Balance Sheet
Accounts