Problem 17-13 (Static) General Fund Entries [AICPA Adapted] LO 17-7\ The following information was abstracted from the accounts of the general fund of the City of Noble after the books had been closed for the fiscal year ended June 30, 20X2.\ \ Postclosing Transactions July 1, Postclosing\ Trial Balance, 20X1June 30, 20X2 Trial Balance,\ June 30, 20X1 Debit Credit June 30, 20X2\ Cash $ 700,000 $ 1,820,000 $ 1,852,000 $ 668,000\ Taxes Receivable 40,000 1,870,000 1,828,000 82,000\ Total $ 740,000 $ 750,000\ Allowance for Uncollectible Taxes $ 8,000 8,000 10,000 $ 10,000\ Vouchers Payable 132,000 1,852,000 1,840,000 120,000\ Fund Balance: \ Assigned for Encumbrances 70,000 70,000\ Unassigned 600,000 70,000 20,000 550,000\ Total $ 740,000 $ 750,000\ Additional Information:\ \ The budget for the fiscal year ended June 30, 20X2, provided for estimated revenue of $2,000,000 and appropriations of $1,940,000. Encumbrances of $1,070,000 were made during the year.\ \ Required:\ Prepare proper journal entries to record the budgeted and actual transactions for the fiscal year ended June 30, 20X2. Include closing entries.