The following is a trial balance and several transactions that relate to Ashevilles City Museum Bond Fund.

Asheville Trial Balance City Museum Bond Fund July 1 ,2021
Cash	$50,000
Investments	55,000
Fund Balance restricted		$105,000
Total	$105,000	$105,000

The following transactions took place between July 1, 2021 and June 30, 2022:

The city council of Asheville adopted the budget for the Museum Bond Fund for the fiscal year. The estimated revenues totaled $150,000, the estimated other financing sources totaled $10,000, and the appropriations totaled $155,000.

The General Fund transferred $35,000 to the fund.

To provide additional resources to service the bond issue, a property tax was levied upon the citizens. The total levy was $130,000, of which $115,000 was expected to be collected.

Property taxes of $90,000 were collected.

Revenue received in cash from investments totaled $12,500.

Property taxes of $25,000 were collected.

A fee of $2,500 was paid to the fiscal bond agent, for help in servicing debt.

Interest in the amount of $45,500 and principal in the amount of $50,000 were paid in cash.

At the end of the accounting period, a net increase in the fair value of investments totaled $3,000.

Use the preceding information to perform the following:

Prepare all journal entries necessary to record the preceding transaction for the City Museum Bond Fund (DSF). Include closing entries.

Prepare a statement of revenues, expenditures and changes in fund balance for the City Museum Bond Fund (assume all fund balance is restricted) as of 6/30/22.

Prepare a balance sheet as of 6/30/22.