The Crime Victim Restitutions fund had the following balances at January 1, 2024: Debits Credits Cash $7,500 Payable to Crime Victims $7,500 Net position 0 Totals $7,500 $7,500 Required: Record the following transactions: Restitution payments were received in the amount of $96,000 for the year. Payments to crime victims totaled $95,300 for the year. Prepare an entry closing all nominal accounts and post to their T-accounts