2. (Closing entries) The preclosing trial balance of the General Fund for the City of Thomaston...

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2. (Closing entries) The preclosing trial balance of the General Fund for the City of Thomaston shows the following balances at the end of its fiscal year. Budgetary fund balance Fund balance, beginning (actual) Estimated revenues Appropriations $ 10,000 150,000 620,000 610,000 Revenues (actual). Expenditures Based on information presented above: 625,000 605,000 a. Prepare closing entries for the budgetary and financial accounts. 2. (Closing entries) The preclosing trial balance of the General Fund for the City of Thomaston shows the following balances at the end of its fiscal year. Budgetary fund balance Fund balance, beginning (actual) Estimated revenues Appropriations $ 10,000 150,000 620,000 610,000 Revenues (actual). Expenditures Based on information presented above: 625,000 605,000 a. Prepare closing entries for the budgetary and financial accounts.