Question 9 Partially correct Mark 4.89 out of 5.00 Preparation of closing entries Flag question The Town of Red Tail reports the following trial balance after all entries have been made for the year: Trial Balance DR CR Cash 212,147 Receivables Real estate & personal property 15,480 Intergovernmental 160,083 Payables $18,319 Deferred revenues 176,085 Fund balances: Assigned Unassigned 46,440 86,860 Revenues-real estate taxes 598,565 Intergovernmental revenues 125,651 Expenditures-general government 118,694 Expenditures-public safety 85,797 Expenditures-education 394,783 Expenditures-public works 32,899 Expenditures-human services 65,797 Expenditures-debt principal payments 2,580 Expenditures-debt interest payments Other financing sources-proceeds from bonds 860 37,200 1,089,120 1,089,120 The Town's budget for the year, originally entered into the financial records, was as follows: ESTIMATED REVENUES ESTIMATED OTHER FINANCING SOURCES APPROPRIATIONS 678,749 37,200 (664,551)