During fiscal year 2020, the Town of Tonawanda issued purchase orders to various vendors in the amounts shown for the following functions of the town: General Government$82,500 Public Safety 148,700 Public Works 130,400 Culture and Recreation 97,300 Health and Welfare 94,800 Miscellaneous 14,200 Total$567,900 All goods ordered during the year were received at the following actual costs: General Government$83,720 Public Safety 147,940 Public Works 131,140 Culture and Recreation 98,780 Health and Welfare 93,970 Miscellaneous 14,300 Total$569,850 a. Prepare a summary journal entry in the General Fund general journal to record the issuance of purchase orders during fiscal year 2020. (If no entry is required for a transaction/event, select
"No Journal Entry Required" in the first account field.)b. Prepare summary journal entries in the General Fund general journal to record the receipt of and payment for goods during fiscal year 2020. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
What will be an ideal response?
TOWN OF TONAWANDA
General Ledger
| Debits | Credits |
| a. | General Fund: |
| ENCUMBRANCES-2020 | 567,900 |
| OUTSTANDING-2020 | 567,900 |
| b. | General Fund: |
| OUTSTANDING-2020 | 567,900 |
| ENCUMBRANCES-2020 | 567,900 |
| EXPENDITURES-2020 | 569,850 |
| VOUCHERS PAYABLE | 569,850 |
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