Question: The following summary of transactions was taken
The following summary of transactions was taken from the accounts of the Oslo School District general fund before the books had been closed for the fiscal year ended June 30, 2016: 
ADDITIONAL INFORMATION: 1. The estimated taxes receivable for the year ended June 30, 2016, were $2,870,000, and current-year taxes collected during the year totaled $2,810,000. 2. Estimated uncollectible taxes from the prior year were written off. 3. An analysis of the transactions in the vouchers payable for the year ended June 30, 2016, follows: Debit (Credit) Current expenditures.......................................... $(2,700,000) Expenditures for prior years....................................... (58,000) Vouchers for payment to other funds....................... (210,000) Cash payments during the year............................... 2,640,000 Net change............................................................... $(328,000) 4. During the year the general fund was billed $142,000 for services performed on its behalf by other city funds. 5. On May 2, 2016, commitment documents were issued for the purchase of new textbooks at a cost of $91,000. REQUIRED: Based on the data presented, reconstruct the original detailed journal entries that were required to record all transactions for the fiscal year ended June 30, 2016, including the recording of the current year’s budget. Do not prepare closing entries at June 30, 2016.
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Postclosing Balances Preclosing Balances June 30, 2015 June 30, 2016 Cash $400,000 S700,000 Taxes receivable 150,000 (40,000) Estimated uncollectible taxes Estimated revenues 170,000 (70,000) 3,000,000 2,842,000 Expenditures Expenditures-prior years Encumbrances 91,000 $6,733,000 $510,000
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