Presented below is the preclosing trial balance for the Scholarship Fund, a private$-$purpose trust fund of the Algonquin School District.

Required:

Prepare the year$-$end closing entries and a Statement of Changes in Fiduciary Net Position for the year ended December $31,2020.$

Complete this question by entering your answers in the tabs below.

General

Journal

Prepare the year$-$end closing entries. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first

account field.$)$

Journal entry worksheet

$1$

Record the year$-$end closing entry for the fund.

Note: Enter debits before credits.

Clear entry

View general journal