671 E 17-5 General Fund Closing Entries LO 8 The preclosing trial balance for the General Fund of the City of Springfield is presented below. City of Springfield The General Fund General Ledger Trial Balance December 31, 2020 Cash $ 90,000 Certificates of Deposit 120,000 Property Taxes Receivable 175,000 Estimated Revenue 1.690,000 Expenditures 1,310,000 Expenditures-2019 32,000 Encumbrances 165,000 Estimated Uncollectible Taxes Vouchers Payable Fund Balance - Unassigned Fund Balance - Assigned (Note 1) Reserve for Encumbrances-2019 Appropriations Revenue $3,582,000 Note 1: Includes $35,000 of encumbrances from 2019. $ 51,000 65.000 41,000 200,000 35.000 1.550,000 1,675,000 $3,582,000 Required: Prepare the closing entries for the General Fund