Accounting for expenditures and encumbrances. Blushing City had the following balance sheet accounts and amounts as of January 1, 2018: Prepare general fund journal entries for the following 2018...

Accounting for expenditures and encumbrances. Blushing City had the following balance sheet accounts and amounts as of January 1, 2018:

Prepare general fund journal entries for the following 2018 transactions:

1. Prior-period supplies encumbrances are reinstated in 2018. These are included in the 2018 budget.

2. Orders are placed for supplies inventory at an estimated cost of $70,000.

3. All inventory ordered (including amounts encumbered last year) is received; actual invoices are for $82,000.

4. The physical inventory of supplies at year-end is $30,000.