The following transactions relate to Newport City's special revenue fund.

In $2020,$ Newport City created a special revenue fund to help fund the $911$ emergency call center. The center is to be funded

through a legally restricted tax on cellular phones. No budget is recorded.

During the first year of operations, revenues from the newly imposed tax totaled $$489,000.$ Of this amount, $$444,000$ has been

received in cash and the remainder will be received within $60$ days of the end of the fiscal year.

Expenditures $($salaries$)$ incurred through the operation of the $911$ emergency call center totaled $$449,000.$ Of this amount, $$422,000$

was paid before year$-$end.

During the year the state government awarded Newport City a grant to reimburse the City's costs $($not to exceed $$150,000)$ for the

purpose of training new $911$ operators. During the year, the City paid $$146,500($not reflected in the expenditures above$)$ to train new

operators for the $911$ emergency call center and billed the state government.

$$138,000$ of the amount billed to the State had been received by year$-$end.

Required:

a$.$ Prepare the journal entries for the above transactions. It is not necessary to use control accounts and subsidiary ledgers. Prepare

closing entries for year$-$end.

b$.$ Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the special revenue fund.

c$.$ Prepare a Balance Sheet assuming there are no committed or assigned net resources.

Complete this question by entering your answers in the tabs below.

Prepare the journal entries for the above transactions. It is not necessary to use control accounts and subsidiary ledgers. $($If no entry is

required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

In $2020,$ Newport City created a special revenue fund to help fund the $911$

emergency call center. The center is to be funded through a legally restricted

tax on cellular phones. No budget is recorded.

Note: Enter debits before credits.