PROBLEM 4-6

Please complete all parts and show all work

The following information was abstracted from the accounts of the General Fund of the City of Rome after the books had been closed for the fiscal year ended June 30, 2017 Postclosing Trial Balance June 30 2016 Transactions July 1, 2016, to June 30, 2017 Postclosing Trial Balance June 30 2017 Debits Credits Cash Taxes Receivable $490,000 $1,274,000 $1,310,400 $453,600 1,316,000 279,600 28,000 64,400 $518,000 $518,000 Allowance for 5.600 Uncollectible Taxes Accounts Payable Fund Balance 5,600 92,400 7,000 1,296,400 1,218,000 77,000 7,000 14,000 497,000 $518,000 420,000 $518,000 There were no transfers into the General Fund, but there was one transfer out. Prepare journal entries to record the transactions for the fiscal year ended June 30, 2017. Include closing entries