During the fiscal year ended June 30, 2013, Harmon School District (see exercise E4- 2) paid…

 
   

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During the fiscal year ended June 30, 2013, Harmon School District (see exercise E4- 2) paid salaries of $ 2,160,000, chargeable to the instruction appropriation. Instruction salaries for the last biweekly pay period in June 2013, amounting to $ 120,000, will be paid on July 5, 2013. Prepare entries to record instruction salary expenditures for fiscal year 2013. In exercise E4-2 Estimated Revenues Property taxes………… $ 3,600,000 Investment income………. 100,000 Miscellaneous income……… 50,000 Appropriations Administration……….. $ 300,000 Instruction…………. 2,400,000 Pensions, other benefits……. 350,000 Transportation ……….. 200,000 Building maintenance ……. 150,000 School supplies ………… 180,000 Debt service……….. 160,000 All other expenditures …….. 70,000