The following is a pre$-$closing trial balance for the Village of Lake Augusta$$s general Fund as of December $31,2017$:

$1.$ Prepare the required closing entries.

$2.$ Prepare a balance sheet for the general fund. Assume outstanding encumbrances are assigned; $$3,000$ of the fund balance is committed; and $$20,000$ of the fund balance is restricted.

$3.$ Interpret the financial position of the village.$\backslash$table$[[,$Debits,Credits$],[$Accounts payable,,$6,800],[$Appropriations$,,160,000],[$Budgetary fund balance,,$38,000],[$Budgetary fund balance: reserve for encumbrances,,$5,000],[$Cash$,116,500,],[$Deferred revenues: property taxes,,$3,000],[$Due to other funds,,$5,000],[$Encumbrances$,5,000,],[$Estimated other financing sources,$8,000,],[$Estimated other financing uses,,$10,000],[$Estimated revenues,$200,000,],[$Estimated uncollectible taxes,,$2,000],[$Expenditures$,154,000,],[$Fund balance,,$54,700],[$Other financing sources,,$10,000],[$Other financing uses,$11,000,],[$Revenues$,,199,000],[$Tax anticipation notes payable,,$30,000],[$Taxes receivable,$29,000,],[$Totals$,523,500,523,500]]$