The following is a pre-closing trial balance for the Village of Lake Augusta's general Fund as of December 31, 2017: Debits Credits Accounts payable Appropriations Budgetary fund balance Budgetary fund balance: reserve for encumbrances 6,800 160,000 38,000 5,000 Cash Deferred revenues: property taxes Due to other funds Encumbrances Estimated other financing sources Estimated other financing uses Estimated revenues Estimated uncollectible taxes. Expenditures Fund balance 116,500 3,000 5,000 5,000 8,000 10,000 200,000 2,000 154,000 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 a. Prepare the required closing entries. Account Debit Credit b. 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. Click the Submit Assignment button. Use the file-upload feature to upload your completed Excel spreadsheet for this assignment. Alan, a debtor, and Britney, a creditor, sign a security agreement containing a specific description of the collateral. Britney subsequently files a financing statement that contains a more general description. This description a. invalidates the financing statement only. b. invalidates the security agreement only. C. invalidates the financing statement and the security agreement. d. is sufficient. Pure Capital Corporation wants to perfect a security interest in a negotiable instrument owned by Quality Securities, Inc., and payable to Right Investment Company. This can be accomplished by a. contacting the party to whom the instrument is payable. b. filing a financing statement. C. notifying the appropriate federal officer. d. taking possession of the instrument.