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The Police Department of a given city received an appropriation in the amount of $8,000,000 for the fiscal year ended June 30,2012.During the month ended July 31,2011,the following transactions occurred: (a) purchase orders were issued in the amount of $500,000; (b) purchase orders,related to (a) above,were filled in the amount of $460,000; the related invoice amount was $463,000; invoices were paid in the amount of $450,000; (c) salaries were accrued and paid in the amount of $480,000.The balance available for the police department as of July 31,2011 is:
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