The City of Castleton's General Fund had the following post-closing trial balance at June 30 , 2019 , 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, 2020. b. Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. Do not close the governmental activities accounts. c. Prepare a General Fund balance sheet as of June 30, 2020. d. Prepare a statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 2020. Do not prepare the government-wide financial statements. Rec ord the effect of the following transactions on the General Fund and governmental activities for the year ended June 30 , 2020 . (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 5. $2,240,000 ofcurrenttaxes, $399,270 of delinquent taxes, and $22,170 of interestand penalties were collected. The delinquent taxes and as ociated interestand penalties were collected more than 60 days after the prior year-end. 6. Additional interestand penalies on delinquentaxes were accrued in the a mount of $40,030, ofwhich 20 percentwas es timated to be uncollectible. 7. Because of a change in s tate law, the city was notified that it willreceive $112,000 less in intergovernmentalrevenues than was budgeted. \begin{tabular}{|l|l|l|l|l|} \hline 7 & GeneralFund & Budgetary Fund Balance \\ \hline & & Es timated Revenues \\ \hline & & \\ \hline & Governmental Activities & NoJournal Enty Required \\ \hline & & & 112,000 \\ \hline \end{tabular} 8. Delinquent taxes of $13,507 were deemed uncollectible and written off. The as sociated interes tand penalies of $1,005 als o were w ritten off. 9. Totalpayroll during the year was $979,490. Ofthata mount, $78,690 was with held for employees FIC A tax liability, S119,710 for employees" federal income tax liability, and $36,000 for state taxes; the balance was paid to employees in cash. 10. The employer's FIC A tax liability was recorded for $78,690. Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. Do not close the governmental activities accounts. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Prepare a General Fund balance sheet as of June 30,2020. Prepare a statement of revenues, expenditures, and changes in fund balance for the year ended June 30 , 2020 . Do not prepare the government-wide fina ncial statements. The City of Castleton's General Fund had the following post-closing trial balance at June 30 , 2019 , 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, 2020. b. Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. Do not close the governmental activities accounts. c. Prepare a General Fund balance sheet as of June 30, 2020. d. Prepare a statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 2020. Do not prepare the government-wide financial statements. Rec ord the effect of the following transactions on the General Fund and governmental activities for the year ended June 30 , 2020 . (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 5. $2,240,000 ofcurrenttaxes, $399,270 of delinquent taxes, and $22,170 of interestand penalties were collected. The delinquent taxes and as ociated interestand penalties were collected more than 60 days after the prior year-end. 6. Additional interestand penalies on delinquentaxes were accrued in the a mount of $40,030, ofwhich 20 percentwas es timated to be uncollectible. 7. Because of a change in s tate law, the city was notified that it willreceive $112,000 less in intergovernmentalrevenues than was budgeted. \begin{tabular}{|l|l|l|l|l|} \hline 7 & GeneralFund & Budgetary Fund Balance \\ \hline & & Es timated Revenues \\ \hline & & \\ \hline & Governmental Activities & NoJournal Enty Required \\ \hline & & & 112,000 \\ \hline \end{tabular} 8. Delinquent taxes of $13,507 were deemed uncollectible and written off. The as sociated interes tand penalies of $1,005 als o were w ritten off. 9. Totalpayroll during the year was $979,490. Ofthata mount, $78,690 was with held for employees FIC A tax liability, S119,710 for employees" federal income tax liability, and $36,000 for state taxes; the balance was paid to employees in cash. 10. The employer's FIC A tax liability was recorded for $78,690. Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. Do not close the governmental activities accounts. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Prepare a General Fund balance sheet as of June 30,2020. Prepare a statement of revenues, expenditures, and changes in fund balance for the year ended June 30 , 2020 . Do not prepare the government-wide fina ncial statements