Debt Service Fund Trial Balance. Following is Franklin County€™s debt service fund pre-closing trial balance for the fiscal year ended June 30, 2011.

Required
Using information provided by the trial balance, answer the following.
a. Assuming the budget was not amended, what was the budgetary journal entry recorded at the beginning of the fiscal year
b. What is the budgetary fund balance?
c. Did the debt service fund pay debt obligations related to capital leases? Explain.
d. Did the debt service fund perform a debt refunding? Explain.
e. Prepare a statement of revenues, expenditures, and changes in fund balance for the debt service fund for the year ended June 30,2011.

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FRANKLIN COUNTY Debt Service Fund Pre-closing Trial Balance June 30, 2011 Debits Credits $ 132,000 Cash $ 125,200 Fund Balance Budgetary Fund Balance Estimated Other Financing Sources 5,825,000 Estimated Revenue 1,006,500 Revenue-Sales Taxes 1,001,400 Revenue Investment Earnings 5,400 Other Financing Sources-Interfund Transfers in 825,000 Other Financing Sources Proceeds of Refunding Bonds 5,000,000 Estimated Other Financing Uses 5,000,000 Appropriations Expenditures Bond Interest Expenditures-Bond Principal Other Financing Uses Payment to Escrow Agent 1,825,000 825,000 1,000,000 5,000,000