[The following information applies to the questions displayed below.]

Following is Grant County’s debt service fund pre-closing trial balance for the fiscal year ended June 30, 2017.

GRANT COUNTY
Debt Service Fund
Pre-closing Trial Balance
June 30, 2017
	Debits			Credits
Cash	$	214,000
Investments		56,000
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
Other Financing Sources – Interfund Transfers In					145,000
Other Financing Sources – Proceeds of Refunding Bonds					7,000,000
Estimated Other Financing Uses					7,000,000
Appropriations					1,525,000
Expenditures – Bond Interest		525,000
Expenditures – Bond Principal		1,000,000
Other Financing Uses – Payment to Escrow Agent		7,000,000

Using information provided by the trial balance, answer the following.

Assuming the budget was not amended, what was the budgetary journal entry recorded at the beginning of the fiscal year?

Record the budgetary Journal Entry 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?

Yes

No

d. Did the debt service fund perform a debt refunding?

Yes

No