Danville, KY had the following pre-closing trial closing balance at June 30, 2017, the end of its fiscal year. Prepare the closing entries below:

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	D e bits	Cre dits
Cash	$ 116,500
Taxes Receivable--Current	29,000
Estimated Uncollectible Current Taxes		3,000
Accounts Payable		8,700
Due to Federal Government		22,500
Tax Anticipation Notes Payable		50,000
Encumbrances Outstanding--2017		16,900
Fund Balance--Unassigned		96,530
Budgetary Fund Balance	31,660
Estimated Other Financing Sources	25,000
Estimated Revenues	130,000
Estimated Other Financing Uses		6,340
Revenues		128,800
Appropriations		117,000
Other Financing Sources		25,000
Encumbrances--2017	16,900
Other Financing Uses	6,200
Expenditures--2016	2,530
Expenditures--2017	116,980

1. Record the entry to close the budgetary accounts only:

2. Record the entry to close all other temporary accounts:

3. After the closing entries have been prepared above, assume that Danville allocated $11,000 of the revised unassigned fund balance to the assigned category for Parks and Recreation for safety rails on the park entry steps; in addition, the city allocated $3,620 restricted for Education. Instructions: a. Prepare a T-account for Fund Balance Unassigned (July 1, 2016 balance, $96,530) and post the closing entries above and calculate the ending balance (6-30-17) after the allocations for Parks and Recreation and Education have been recorded. Make sure the T-account is properly labeled:

b. Prepare the reclassification entry to allocate the funds (Assigned) to Parks and Recreation and the funds (Restricted) for Education from the Fund BalanceUnassigned in the general fund: