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The City of Lynnwood was recently incorporated and had the following transactions for the fiscal year ended December $31.$

The city council adopted a General Fund budget for the fiscal year. Revenues were estimated at $$2,000,000$ and appropriations were $$1,990,000.$

Property taxes in the amount of $$1,940,000$ were levied. It is estimated that $$9,000$ of the taxes levied will be uncollectible.

A General Fund transfer of $$25,000$ in cash and $$300,000$ in equipment $($with accumulated depreciation of $$65,000)$ was made to establish a central duplicating internal service fund.

A citizen of Lynnwood donated marketable securities with a fair value of $$800,000.$ The donated resources are to be maintained in perpetuity with the city using the revenue generated by the donation to finance an after$-$school program for children, which is sponsored by the culture and recreation function. Revenue earned and received as of December $31$ was $$40,000.$

The city$$s utility fund billed the city$$s General Fund $$125,000$ for water and sewage services. As of December $31,$ the General Fund had paid $$124,000$ of the amount billed.

The central duplicating fund purchased $$4,500$ in supplies.

Cash collections recorded by the general government function during the year were as follows:

Property taxes $ $1,925,000$

Licenses and permits $35,000$

User charges $28,000$

During the year, the internal service fund billed the city$$s general government function $$15,700$ for duplicating services and it billed the city$$s utility fund $$8,100$ for services.

The city council decided to build a city hall at an estimated cost of $$5,000,000.$ To finance the construction, $6$ percent bonds were sold at the face value of $$5,000,000.$ A contract for $$4,500,000$ has been signed for the project; however, no expenditures have been incurred as of December $31.$

The general government function issued a purchase order for $$32,000$ for computer equipment. When the equipment was received, a voucher for $$31,900$ was approved for payment and payment was made.

b$.$ Using the funds you identified in part a$,$ prepare journal entries to properly record each transaction for the fiscal year ended December $31.($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

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