a. Prepare all year-end adjusting and closing entries for Graystone Countys general fund.

b. Prepare a year-end balance sheet for Graystone Countys general fund.

1. At year-end, $350,000 in uncollected taxes are expected to be collected within 60 days. The remainder are considered uncollectible. 2. A physical count of inventory revealed $190,000 of supplies on hand. The county uses the consumption method. 3. Assigned fund balance consists of outstanding encumbrances at year-end. 4. Deferred inflows are taxes collected in advance of the year they are available to use. At year-end, taxes collected in advance but not available for use until next year total $250,000