Following is the adjusted trial balance for the General Fund of the Township of Florida on June 30, 2016, the end of the fiscal year.

Based on this information, prepare:

1. closing entries

2. the statement of revenues, expenditures, and changes in fund balance for the year

2. the balance sheet at June 30, 2016. (Classify the fund balance as Unassigned.)

Township of Florida General Fund Adjusted Trial Balance June 30, 2016
Cash	$ 6,200
Taxes receivable	40,000
Investments	65,000
Vouchers payable		38,750
Tax anticipation notes payable		12,750
Unassigned fund balance		57,000
Estimated revenues	101,000
Appropriations		99,000
Budgetary fund balance		2,000
Revenues-taxes		100,000
Revenues-other		2,080
Expenditures-personal services	94,700
Expenditures-supplies	4,680	0
	$ 311,580	$ 311,580

please clarify what is credit and what is debit