E4-27 Operating Transactions and Financial Statements [LO 4-1, 4-2, 4-3] The City of Castleton's General Fund had the following post-closing trial balance at June 30, 2019, the end of its fiscal year: Credits Debits $358,000 587,000 $251,120 26,680 11,560 Cash Taxes Receivable-Delinquent Allowance for Uncollectible Delinquent Taxes Interest and Penalties Receivable Allowance for Uncollectible Interest and Penalties Inventory of Supplies Vouchers Payable Due to Federal Government Deferred Inflows of Resources-Unavailable Revenues Fund Balance-Nonspendable-Inventory of Supplies Fund Balance-Unassigned 16,500 152,500 63,490 351,000 16,500 142,010 $988,180 $988,180 a. Record the effect of the following transactions on the General Fund and governmental activities for the year ended June 30, 2020. b. Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. Do not close the governmental activities accounts. c. Prepare a General Fund balance sheet as of June 30, 2020. d. Prepare a statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 2020. Do not prepare the government-wide financial statements. Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare a General Fund balance sheet as of June 30, 2020. CITY OF CASTLETON General Fund Balance Sheet As of June 30, 2020 Assets Cash $ 358,000 $ 335,880 Taxes ReceivableDelinquent Less: Allowance for Uncollectible Taxes-Delinquent Interest and Penalties Receivable Less: Allowance for Uncollectible Interest and Penalties Inventory of Supplies Total Assets 587,000 251,120 26,680 11,560 15,120 16,500 725,500 $ Liabilities and Fund Balances $ Liabilities: Vouchers Payable Deferred Inflows of Resources-Unavailable Revenues Total Liabilities and Deferred Inflows of Resources Fund Balances: 351,000 X 63,990 X 414,990 $ 16,500 142,010 X NonspendableInventory of Supplies Unassigned Total Fund Balances Total Liabilities and Fund Balances 158,510 573,500 $ Dod D Dod