12:08 5-5 The citizens of Spencer County approved the issuance of $2,000,000 in 6 percent general obligation bonds to finance the construction of a courthouse annex. A capital projects fund was established for that purpose. The preclosing trial balance of the courthouse annex capital project fund follows Trial Balance-December 31, 2017 Cash Contract payable Due from state government Encumbrances Expenditures-capital Intergovernmental grant OFS: OFS: proceeds sale of bonds Budgetary fund balance_ premium on bonds Reserve for encumbrances OFU: Transfer out a. Prepare any closing entries Page 139 necessary at year-end. b. Prepare a Statement of Revenues, 12:08 5-5 The citizens of Spencer County approved the issuance of $2,000,000 in 6 percent general obligation bonds to finance the construction of a courthouse annex. A capital projects fund was established for that purpose. The preclosing trial balance of the courthouse annex capital project fund follows Trial Balance-December 31, 2017 Cash Contract payable Due from state government Encumbrances Expenditures-capital Intergovernmental grant OFS: OFS: proceeds sale of bonds Budgetary fund balance_ premium on bonds Reserve for encumbrances OFU: Transfer out a. Prepare any closing entries Page 139 necessary at year-end. b. Prepare a Statement of Revenues