17. All unpaid current year's property taxes became delinquent. The balances of the current taxes receivable and related uncollectibles were transferred to delinquent accounts. The City uses the 60 -day rule for all revenues and does not expect to collect any delinquent property taxes or interest and penalties 18. A physical inventory of materials and supplies at June 30,2023 , showed a total of $23,100. Inventory is recorded using the purchases method in the General Fund; the consumption method is used at the government-wide level. (Note: A periodic inventory system is used both in the General Fund and at the government-wide level. When inventory was purchased during the year, Expenditures were debited in the General Fund journal and Inventory of Supplies was debited in the governmental activities journal.) a. Record the effect of the following transactions on the General Fund and governmental activities for the year ended June 30, 2023. b. Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. c. Prepare a General Fund balance sheet as of June 30, 2023. d. Prepare a General Fund statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 2023. Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ CITY OF CASTLETON } \\ \hline \multicolumn{3}{|c|}{ General Fund Balance Sheet } \\ \hline \multicolumn{3}{|l|}{ As of June 30,2023} \\ \hline \multicolumn{3}{|l|}{ Assets } \\ \hline \multicolumn{3}{|l|}{ Cash } \\ \hline \multicolumn{3}{|l|}{ Sales Taxes Receivable } \\ \hline \multicolumn{3}{|l|}{ Taxes Receivable-Delinquent } \\ \hline Less: Allowance for Uncollectible Taxes-Delinquent & & 0 \\ \hline \multicolumn{3}{|l|}{ Interest and Penalties Receivable } \\ \hline Less: Allowance for Uncollectible Interest and Penalties & & 0 \\ \hline \multicolumn{3}{|l|}{ Inventory of Supplies } \\ \hline Total Assets & $ & 0 \\ \hline \multicolumn{3}{|c|}{ Liabilities and Fund Balances } \\ \hline \multicolumn{3}{|l|}{ Liabilities: } \\ \hline \multicolumn{3}{|l|}{ Vouchers Payable } \\ \hline \multicolumn{3}{|l|}{ Deferred Inflows of Resources_Unavailable Revenues } \\ \hline Total Liabilities and Deferred Inflows of Resources & & 0 \\ \hline \multicolumn{3}{|l|}{ Fund Balances: } \\ \hline \multicolumn{3}{|l|}{ Nonspendable-Inventory of Supplies } \\ \hline \multicolumn{3}{|l|}{ Unassigned } \\ \hline Total Fund Balances & & 0 \\ \hline Total Liabilities and Fund Balances & $ & 0 \\ \hline \end{tabular} Prepare a General Fund statement of revenues, expenditures, and changes in fund balance for the year ended June 30,2023. 17. All unpaid current year's property taxes became delinquent. The balances of the current taxes receivable and related uncollectibles were transferred to delinquent accounts. The City uses the 60 -day rule for all revenues and does not expect to collect any delinquent property taxes or interest and penalties 18. A physical inventory of materials and supplies at June 30,2023 , showed a total of $23,100. Inventory is recorded using the purchases method in the General Fund; the consumption method is used at the government-wide level. (Note: A periodic inventory system is used both in the General Fund and at the government-wide level. When inventory was purchased during the year, Expenditures were debited in the General Fund journal and Inventory of Supplies was debited in the governmental activities journal.) a. Record the effect of the following transactions on the General Fund and governmental activities for the year ended June 30, 2023. b. Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. c. Prepare a General Fund balance sheet as of June 30, 2023. d. Prepare a General Fund statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 2023. Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ CITY OF CASTLETON } \\ \hline \multicolumn{3}{|c|}{ General Fund Balance Sheet } \\ \hline \multicolumn{3}{|l|}{ As of June 30,2023} \\ \hline \multicolumn{3}{|l|}{ Assets } \\ \hline \multicolumn{3}{|l|}{ Cash } \\ \hline \multicolumn{3}{|l|}{ Sales Taxes Receivable } \\ \hline \multicolumn{3}{|l|}{ Taxes Receivable-Delinquent } \\ \hline Less: Allowance for Uncollectible Taxes-Delinquent & & 0 \\ \hline \multicolumn{3}{|l|}{ Interest and Penalties Receivable } \\ \hline Less: Allowance for Uncollectible Interest and Penalties & & 0 \\ \hline \multicolumn{3}{|l|}{ Inventory of Supplies } \\ \hline Total Assets & $ & 0 \\ \hline \multicolumn{3}{|c|}{ Liabilities and Fund Balances } \\ \hline \multicolumn{3}{|l|}{ Liabilities: } \\ \hline \multicolumn{3}{|l|}{ Vouchers Payable } \\ \hline \multicolumn{3}{|l|}{ Deferred Inflows of Resources_Unavailable Revenues } \\ \hline Total Liabilities and Deferred Inflows of Resources & & 0 \\ \hline \multicolumn{3}{|l|}{ Fund Balances: } \\ \hline \multicolumn{3}{|l|}{ Nonspendable-Inventory of Supplies } \\ \hline \multicolumn{3}{|l|}{ Unassigned } \\ \hline Total Fund Balances & & 0 \\ \hline Total Liabilities and Fund Balances & $ & 0 \\ \hline \end{tabular} Prepare a General Fund statement of revenues, expenditures, and changes in fund balance for the year ended June 30,2023