Record the property tax revenue deferred of $62,000 that is required by the GASB. The current property taxes receivable of $500,000 less the revenue deferred of $62,000 in K are classified as delinquent along with the amount that is required by the GASB. On Dec. 2, purchase orders were issued for supplies in the amount of $440,000. On December 15, supplies, relating to all of the prior year purchase orders ($400,000), were received along with invoices amounting to $397,000. Received 6% interest revenue on the Investments (beg. Balance) in cash. Record the closing entry. Remember that the actual revenues is closed by a debit with a credit to Estimated Revenues and the balance to Fund Balance. Record the closing entry. Remember that the actual expenditures and the balance in Encumbrances is closed by a credit with a debit to Appropriations and the balance to Fund Balance. Prepare a 12/31/14 Balance Sheet assuming the beginning balances and journal entries A to Q and the books have been closed out to Fund Balance.