The City of Evansvile operated a summer camp program for at$-$risk youth. Businesses and nonprofit organizations sponsor one or

more youth by paying the registraton fee for program particlpants. The following Schedule of Cash Recerpss and Disbursements

summarizes the activty in the program's bank account for the year.

At the beginning of $2020,$ the program had unrestricted cash of $$24,000.$

The loan from the bank is dated April $1$ and is for a five$-$year period. Interest $(6$ percent annual rate$)$ is paid on October $1$ and April $1$

of each year, beginning October $1,2020$

The bus was purchased on April $1$ with the proceeds provided by the bank loan and has an estimated useful life of five years

$($stralght$-$line bosls$-$use monthly depreciation$).$

All Involces and salaries related to $2020$ had been pald by close of business on December $31,$ except for the employer's portion of

December payroll taxes, totaling $$1\mathrm{.}200$

Required:

a$.$ Prepare the journal entries, closing entries, and a Statement of Revenues. Expenses, and Changes in Fund Net Position assuming

the City intends to trest the summer camp program as an enterprise fund.

b$.$ Prepare the joumal entries, closing entries, and a Statement of Revenues, Expenditures, and Changes in Fund Balance assuming

the City intends to treat the summer camp program as a special revenue fund.

Complete this question by entering your answers in the tabs below.

Req A Entries

Req A Net

Req A Net Position

Rea B Entries

Req B rund

Req $B$ rund Balance

Prepare the journal entries including closing entries. $($tf no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in

the first account field.$)$

Journal entry worksheet

Record the entry for revenue received in cash.

Note: tonter debits belore credits.

Journal entry worksheet

Record the entry for Other Financing Sources proceeds of note payable.

Note: Enter debits before credits.

Journal entry worksheet

Resord the entry for expenditures paid in cash.

Noter Biter debits before creats.

Journal entry worksheet

Record the entry for eccrued interest payable.

Note: Eriter debits before credis.

I need help with questions $1-7.$ Question

$5.$ Record the entry for depreciation

$6.$ Record the entry for accural of payroll taxes.

$7.$ Record the closing entry for fund.