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 $36,000. 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 $2,500. 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. Prepare the journal entries including closing entries. (If no entry is required for a the first account field.) 1 Record the entry for revenue received in cash. 2 Record the entry for cash receipt on issue of long-term note payable. 3 Record the entry for disbursements. 4 Record the entry for interest payable. 5 Record the entry for depreciation. 6 Record the entry for accrual of payroll taxes. 7 Record the closing entry for fund. Note : = journal entry has been entered Prepare the Statement of Revenues, Expenses, and Changes in Fund Net Position assuming the City intends to treat the summer camp program as an enterprise fund. (Deductions should be entered as a negative amount.) Prepare journal entries to record the events above in the debt service fun Journal Entry Required" in the first account field.) Record the sale of bonds in capital projects fund. Record the transfer of premium to the debt service fund. Record the receipt from the general fund for interest. Record the interest expenditure incurred. Record the transfer-in and expenditure to the fund balance account. 6 Record the receipt from the general fund. 7 Record the payment of principal and interest. Note : = journal entry has been entered Fund Balance assuming the Ild be entered as a negativ