form a pretrial balance, statement of revenues, exp and changes in fund balance, and balance sheet.form a pretrial balance, statement of revenues, exp and changes in fund balance, and balance sheet.

1 Prepare joumal entries based upon the following transactions for the city of Cannonville. Upon completion prepare a trial balance prior to the closing entries 2 The following transactions relate to cannonville for their general fund for year ended December 31,2021 3 On March 1st, property taxes were levied for $902,000. the community does not utilize an allowance account, as everything is expect ed to be collected within the fiscal year. On april 1st cash receipts totaled $870,000 for property taxes and $200,000 for sales taxes, and 75,000 for other taxes. On June 3rd, contracts were issued for two community events in the amount of $90,000. Services were performed on june 28th relating to $82,000 of the june 3mid contracts; the actual invoices were $80,000. On august 5th, invoices were received for general governmental expenditures in the amount of $950,000. There were no encumbrances for these expenditures. On september 29th accounts payable were paid in the amount of $1,070,000. Prepare the Closing Entry as of December 31st Part A: Prepare in good form the following joumal entries: Part B: Prepare a trial balance City of Cannonville General Fund General Journal City of Cannonville General Fund Prec December 31