A county engages in basic transactions.Kilbourne County engaged in the following transactions in summary form during its fiscal year. All amounts are in millions.1. Its commissioners approved a budget for the current fiscal year. It included total revenues of $860 and total appropriations of $850.2. It ordered office supplies for $20.3. It incurred the following costs, paying in cash:Salaries $610Repairs $ 40Rent $ 25Utilities $ 41Other operating costs $1194. It ordered equipment costing $9.5. It received the equipment and was billed for $10, rather than $9 as anticipated.6. It received the previously ordered supplies and was billed for the amount originally estimated. The county reports the receipt of supplies as expenditures; it does not maintain an inventory account for supplies.7. It earned and collected revenues of $865.a. Prepare journal entries as appropriate.b. Prepare closing entries as appropriate.c. What would have been the difference in the year-end financial statements, if any, had the county not made the budgetary entries?