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34. 12/16 Closing entries for the debt service fund were made. Account balances prior to closing entries are: Cash: 1500+133250-120000+21000-35000-750 Temporary investments: 20000-20000+35000-35000 Taxes

34. 12/16 Closing entries for the debt service fund were made. Account balances prior to closing entries are: Cash: 1500+133250-120000+21000-35000-750 Temporary investments: 20000-20000+35000-35000 Taxes receivable-current: 120000-120000-0 Taxes receivable-delinquent: 12500-12500-0 Interest payable: 20000-20000-0 Bonds payable: 100000-100000-0 Deferred Inflow of Resources: 12500-12500-0 Estimated revenue: 121000 Revenue: 120000+750+12500+1000=134250 Appropriations: 120000 Expenditures: 120000 Budgetary Fund Balance: 1000 Restricted Fund balance: 21500

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