The City of Evansville operated a summer camp program for at-risk youth. Businesses and nonprofit organizations sponsor one or more youth by paying the registration fee for program participants. The following Schedule of Cash Receipts and Disbursements summarizes the activity in the program's bank account for the year. 1. At the beginning of 2020, the program had unrestricted cash of $25,000 Cash Basis 12 months $129,000 55,000 184,000 Cash receipts Registration fees Horrowing from bank Total deposito Cash disbursements Wages Payroll taxes Insurance (paid monthly) Purchase of bus Interest on bank note Total check Excess of receipts over disbursements 70,000 9,400 6,400 64.000 1,650 151, 450 $ 32,550 2. 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, 3. The bus was purchased on April 1 with the proceeds provided by the bank loan and has an estimated useful life of five years (straight line basis-use monthly depreciation). 4. All invoices and salaries related to 2020 had been paid by close of business on December 31, except for the employer's portion of December payroll taxes, totaling $1,400. 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 treat the summer camp program as an enterprise fund. b. Prepare the journal 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. Reg A Entries Reg A Net Reg B Fund Balance Position Reg B Entries Prepare the journal entries including closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the entry for revenue received in cash. Note: Enter debits before credits General Journal Debit Credit Transaction 1a SUMMER CAMP SPECIAL REVENUE FUND Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 2020 Revenues: 0 Total Revenues Expenditures: Current: 0 Total Expenditures Excess (Deficiency) of Revenues Over Expenditures Other Financing Sources: 0 Fund Balance, January 1 Fund Balance, December 31 $