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Instruction salaries for the last biweekly pay

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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

Reference no: EM13868948

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