A city adopted the following budget for its General Fund for 2013. Prepare the journal entry to record the budget.
Estimated Revenues
Property taxes.......... $ 9,500,000
Sales taxes ............ 1,835,000
Fines and forfeits.......... 65,500
Intergovernmental.......... 1,455,250
................. $ 12,855,750
Appropriations
Administration.......... $ 2,250,000
Public safety .......... 4,770,500
Parks and recreation ........ 1,150,000
Streets .............. 3,435,000
Libraries .............. 900,000
................. $ 12,505,500