The January 1, 2016 balance sheet for the general fund of the Village of Owen, Texas is:

Transactions for the village during 2016 were (in thousands):
1. The village council approved a budget estimating revenues of \($41,000\) in property taxes and \($10,000\) in fees and service charges. The budget authorized expenditures of \($51,000.\)
2. Collected receivables of \($18,500\) from last year and \($26,500\) of the 2016 tax levy.
3. Recorded encumbrances of \($50,300.\) On December 31, 2016, purchase orders of \($13,000\) were outstanding.
4. Bills received exceeded the amounts encumbered by \($200.\)
5. Mailed checks for \($44,000\) in payment of accounts payable.
6. Collected fees and service charges of \($11,000.\)

Required

a. Prepare the journal entries to record the transactions during 2016.

b. Prepare closing entries at December 31, 2016.

c. Compute the unassigned fund balance at December 31, 2016.

d. Prepare a budgetary comparison schedule for 2016. Use the GAAP budgetary basis.

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(in thousands) Cash... VILLAGE OF OWEN General Fund Balance Sheet January 1, 2016 $30,000 Taxes receivable. 20,000 Accounts payable.... Fund balance-unassigned.. $13,000 37,000 Total assets $50,000 Total liabilities and fund balance... $50,000