Prepare Journal Entries to Record the Following Transactions and Events

Short Answer

Prepare journal entries to record the following transactions and events for Tropical Township's General Fund for the year 2020.
a. The township adopted a budget calling for appropriations of $360,000. Estimated revenues (all property taxes) were 340,000.
b. The township sent property tax bills amounting to $340,000 to property owners. All taxes are expected to be collected during the fiscal year.
c. Property owners paid $335,000 of taxes to the township.
d. A purchase order of $25,000 was sent to a supplier.
e. The supplies ordered in d., above, were received in good order and the accompanying invoice of $24,000 was approved but not yet paid.