Journal entries, financial statements, and closing entries for a Debt Service Fund Following are a trial balance and the transactions that relate to the City of Patin Heights' Debt Service Fund: 1. The city council of Patin Heights adopted the budget for the Debt Service Fund for 2022. The estimated revenues totaled $1,000,000, the estimated other financing sources (a transfer from the General Fund) totaled $500,000, and the appropriations totaled 1. The city council of Patin Heights adopted the budget for the Debt Service Fund for 2022. The estimated revenues totaled $1,000,000, the estimated other financing sources (a transfer from the General Fund) totaled $500,000, and the appropriations totale $202,000. 2. The $500,000 transfer from the General Fund was recorded although it had not yet been paid to the Debt Service Fund. 3. To provide additional resources to service the bond issue, a property tax was levied upon the citizens. The total levy was $1,000,000,0 which $975,000 was expecte be collected. 4. Property taxes of $780,000 were collected. 5. Property tax receivables of $5,000 were written off. 6 . Income received in cash from investments totaled $5,000. 7. Property taxes of $150,000 were collected. 8. The fund liability of $50,000 for interest on bonds was recorded, and that amount of cash was transferred to the fiscal agent. 9. Investment revenue of $3,000 was received in cash. 10. The fund liabilities for interest on bonds in the amount of $50,000 and principal in the amount of $100,000 were recorded, and cash for the total amount was transferred to the fiscal agent. 11. The fiscal agent's fee of $1.000 was accrued (credit Vouchers Davable). 11. The fiscal agent's fee of $1,000 was accrued (credit Vouchers payable). 12. Investment revenue of $1,500 was accrued. 13. The transfer recorded in transaction 2 was collected. 14. Investments totaling $1,000,000 were purchased. Use the preceding information to do the following: a. Prepare all the journal entries necessary to record these transactions for the Debt Service Fund. b. Prepare a trial balance for the Debt Service Fund as of December 31, 2022. c. Prepare a statement of revenues, expenditures, and changes in fund balance for the year ended December 31, 2022, and a balance sheet as of December 31, 2022, for the Debt Service Fund (assume all fund balance is restricted). d. Prepare closing entries for the Debt Service Fund