Following is Grant County€™s debt service fund pre-closing trial balance for the fiscal year ended June 30.

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 lease agreements? 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.

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GRANT COUNTY Debt Service Fund Pre-closing Trial Balance June 30 Debits Credits $ 214,000 Cash 56,000 Investments 2$ Fund Balance-Restricted 56,500 Budgetary Fund Balance Estimated Other Financing Sources 7,125,000 Estimated Revenue 1,607,500 Revenue-Sales Taxes 1,582,000 Revenue-Investment Earnings 11,500 145,000 7,000,000 7,000,000 Other Financing Sources-Interfund Transfers In Other Financing Sources-Proceeds of Refunding Bonds Estimated Other Financing Uses Appropriations Expenditures-Bond Interest Expenditures-Bond Principal Other Financing Uses-Payment to Escrow Agent 1,525,000 525,000 1,000,000 7,000,000