The ledger of the General Fund of the City of New Lanier shows the following balances at the end of its fiscal year. Estimated revenues Appropriations Budgetary fund balance Revenues Expenditures $300,000 305,000 5,000 300,000 285,000 Prepare closing journal entries for the budgetary and financial accounts. If an entry affects more than one debit or credit account, enter the accounts in order of magnitude (largest to smallest balances), debits first. Enter 0 or leave the field blank if no entry is required. Account Revenues Expenditures Encumbrances To close budgetary accounts Debit 6,190,000 6,175,000 80,000 Credit OX 0 x 0 x V 0 0 x o O 0 x OX To close financial accounts