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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

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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 occount for the yeac. 1. At the beginning of 2020 , the propram had unrestricted cash of $41,000. 2. The loan fram the bonk is dated Apeil 1 and is for a five-year period. Interest ( 6 percent annual rate) is paid on October 1 and Aptil 1 of each year, beginning October 1,2020 . 3. The bus was purchased on April 1 with the proceeds provided by the bank loon and has an estimated useful ife of five years (straight-line besis-use monthly depreciation). 4. A invoices and salaties related to 2020 had been paid by close of business on December 31 , except for the employer's portion of December poytoll taxes, totaling $3,000 Pequired: a. Prepare the journal entries, Elosing entries, and a Statement of Revenues, Expenses, and Changes in Fund Net Position assuming the City intends to treat the summer canp program as an enterprise fund. b. Prepare the journal entries, closing entries, and a Statement of Revences. Expenditures, and Changes in Fund Bolance assuming the City intends to treat the summer camp program as a special revenue fund. Prepare the journal entries including closing entries. (If no entry is required for a transaction/event, the first account field.) Journal entry worksheet 67 Record the entry for revenue received in cash. Note: Enter debits before credits. Prepare the Statement of Revenues, Expenses, and Changes in Fur summer camp program as an enterprise fund. (Deductions should Prepare the journal entries including closing entries. (If no entry is required for a transaction/even the first account field.) Journal entry worksheet 567 Note: Enter debits before credits. Prepare the Statement of Revenues, Expenditures, and Changes in summer camp program as a special revenue fund. (Deductions sho

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