Following is Klaus Countys debt service fund pre-closing trial balance for the fiscal year ended June 30,

Following is Klaus County’s debt service fund pre-closing trial balance for the fiscal year ended June 30, 2014.

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 balances for the debt service fund for the year ended June 30,2014.

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KLAUS COUNTY Debt Service Fund Pre-closing Trial Balance June 30, 2014 Debits Credits Cash S 107,000 25,000 125,200 Fund Balance Restricted Budgetary Fund Balance Estimated Other Financing Sources Estimated Revenue Revenue Sales Taxes Revenue Investment Earnings Other Financing Sources Interfund Transfers In Other Financing Sources Proceeds of Refunding 5,825,000 1,006,500 1,001,400 5,400 825,000 5,000,000 5,000,000 1,825,000 Bonds Estimated Other Financing Uses Appropriations Expenditures -Bond Interest Expenditures -Bond Principal Other Financing Uses-Payment to Escrow Agent 825,000 1,000,000 5,000,000