The City of Mountain Estates has reached the end of its fiscal year.Following is the adjusted trial balance for the end of that fiscal year.From this trial balance, prepare in proper form the following items:

a.The closing entries

b.The statement of revenues, expenditures, and changes in fund balance for the year

c.The balance sheet on June 30 of the current year

City of Mountain Estates

General Fund

Adjusted Trial Balance

June 30, 2020

Cash 6,200

Taxes receivable 40,000

Investments 65,000

Vouchers payable 38,750

Tax anticipation notes payable 12,750

Unreserved fund balance 57,000

Estimated revenues 101,000

Appropriations 99,000

Budgetary fund balance 2,000

Revenues - taxes 100,000

Revenues - other 2,080

Expenditures - personal services 94,700

Expenditures - supplies 4,680

$ 311,580 $ 311,580