The City of Castleton's General Fund had the following post-closing trial balance at June 30,2022 , the end of its fiscal year: a. Record the effect of the following transactions on the General Fund and governmental activities for the year ended June 30,2023. b. Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. Complete this question by entering your answers in the tabs below. Record the effect of the following transactions on the General Fund and governmental activities for the year ended June 30, 2023. Avoid use of funct details for expenses and itemization of revenue accounts. So, use of account names "Expenses" and "Revenues" will suffice wherever required. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 3. The property tax levy for FY 2023 was recorded. Net assessed valuation of taxable property for the year was $38,000,000, and the tax rate was $6 per 5. $2,040,000 of current taxes, $386,270 of delinquent taxes, $20,870 of interest and penalties, and $14,000 of accrued sales taxes were collected. The \begin{tabular}{|c|l|l|l|l|} \hline 5d & Record the delinquent taxes and associated interest and penalties collected more than 60 days after the prior \\ \hline year-end. \\ \hline & & \\ \hline & & \\ \hline \end{tabular} 6. Additional interest and penalties on delinquent taxes were accrued in the amount of $38,730, of which 30 percent was estimated to be uncollectible. 7. Because of a change in state law, the city was notified that it will receive $86,000 less in intergovernmental revenues than was budgeted. \begin{tabular}{|l|l|l|l|l|l|} \hline 7 & General Fund & & & & \\ \hline & & & & \\ \hline & Govermmental Activites & & & \\ \hline \end{tabular} 8. Delinquent taxes of $13,092 were deemed uncollectible and written off. The associated interest and penalties of $982 also were written off. 10. The employer's FICA tax liability was recorded for $64,990 11. Cash colloctions from sales taxes totaled $828 July 1 were accrued in the amount of $12,300 12. Amounts due to the federat government as of June 30,2023 , and amounts due for FICA taxes and state and federal withholding taxes during the year were vouchered. \begin{tabular}{|l|l|l|l|l|l|} \hline 12 & General Fund & & & & \\ \hline & & & & & \\ \hline \end{tabular} 12. Amounts due to the federal government as of June 30,2023 , and amounts due for FICA taxes and state and federal withholding taxes during the year were vouchered \begin{tabular}{|c|l|l|l|l|l|} \hline 12 & General Fund & & \\ \hline & Governmental Activities & \\ \hline & Gouchered. \\ \hline & & \\ \hline \end{tabular} 13. Purchase orders and contracts encumbered in the amount of $2,018,040 were filled at a net cost of $2,017,570, which was vouchered 13c Governmental Activities Record the receipt of vouchers for the purchase orders and contracts encumbered for 2023. 14. Vouchers payable totaling $2,331,660 were paid after deducting a credit for purchases discount of $8,330 (credit Expenditures). 15. The tax anticipation note of $570,000 was repaid. Interest totaled $10,300. 17. All unpaid current year's property taxes became delinquent. The balances of the current taxes receivable and related uncoliectibles were transferred to Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) The City of Castleton's General Fund had the following post-closing trial balance at June 30,2022 , the end of its fiscal year: a. Record the effect of the following transactions on the General Fund and governmental activities for the year ended June 30,2023. b. Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. Complete this question by entering your answers in the tabs below. Record the effect of the following transactions on the General Fund and governmental activities for the year ended June 30, 2023. Avoid use of funct details for expenses and itemization of revenue accounts. So, use of account names "Expenses" and "Revenues" will suffice wherever required. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 3. The property tax levy for FY 2023 was recorded. Net assessed valuation of taxable property for the year was $38,000,000, and the tax rate was $6 per 5. $2,040,000 of current taxes, $386,270 of delinquent taxes, $20,870 of interest and penalties, and $14,000 of accrued sales taxes were collected. The \begin{tabular}{|c|l|l|l|l|} \hline 5d & Record the delinquent taxes and associated interest and penalties collected more than 60 days after the prior \\ \hline year-end. \\ \hline & & \\ \hline & & \\ \hline \end{tabular} 6. Additional interest and penalties on delinquent taxes were accrued in the amount of $38,730, of which 30 percent was estimated to be uncollectible. 7. Because of a change in state law, the city was notified that it will receive $86,000 less in intergovernmental revenues than was budgeted. \begin{tabular}{|l|l|l|l|l|l|} \hline 7 & General Fund & & & & \\ \hline & & & & \\ \hline & Govermmental Activites & & & \\ \hline \end{tabular} 8. Delinquent taxes of $13,092 were deemed uncollectible and written off. The associated interest and penalties of $982 also were written off. 10. The employer's FICA tax liability was recorded for $64,990 11. Cash colloctions from sales taxes totaled $828 July 1 were accrued in the amount of $12,300 12. Amounts due to the federat government as of June 30,2023 , and amounts due for FICA taxes and state and federal withholding taxes during the year were vouchered. \begin{tabular}{|l|l|l|l|l|l|} \hline 12 & General Fund & & & & \\ \hline & & & & & \\ \hline \end{tabular} 12. Amounts due to the federal government as of June 30,2023 , and amounts due for FICA taxes and state and federal withholding taxes during the year were vouchered \begin{tabular}{|c|l|l|l|l|l|} \hline 12 & General Fund & & \\ \hline & Governmental Activities & \\ \hline & Gouchered. \\ \hline & & \\ \hline \end{tabular} 13. Purchase orders and contracts encumbered in the amount of $2,018,040 were filled at a net cost of $2,017,570, which was vouchered 13c Governmental Activities Record the receipt of vouchers for the purchase orders and contracts encumbered for 2023. 14. Vouchers payable totaling $2,331,660 were paid after deducting a credit for purchases discount of $8,330 (credit Expenditures). 15. The tax anticipation note of $570,000 was repaid. Interest totaled $10,300. 17. All unpaid current year's property taxes became delinquent. The balances of the current taxes receivable and related uncoliectibles were transferred to Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)