The Western Province of K.S.A. has approved the 2020 budget as follows:
Budgeted 2020 revenues from:
Property taxes $8,000,000
Sales taxes $2,000,000
Appropriations for 2020:
Salaries $7,200,000
Materials $2,000,000
Equipment $200,000
During 2020, the authority has presented the budget revision to increase the amount of
appropriation for salaries by $100,000. The council approved this budget revision.
Required:
a. Prepare the general journal entry necessary to initially record the budget.
b. Prepare the general journal entry necessary to record the budget revision .