LO 5 E4-32. (Closing entries) At the end of calendar year 2019, the following balances were found in the ledger of the Old Elias Library Fund. Prepare closing entries for these budgetary and financial accounts. If the Fund balance in the Old Elias Library Fund was $28,000 on January 1, 2019, what was the Fund balance at December 31, 2019? Estimated revenues Appropriations Budgetary fund balance Revenues. Expenditures. $800,000 790,000 10,000 780,000 785,000