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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 6,800
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 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 a. Prepare the required closing entries
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