The preclosing trial balance at December 31, 20X1, for Lone Wolfs general fund follows.

	Debit			Credit
Cash	$	98,000
Property Taxes ReceivableDelinquent		117,400
Allowance for UncollectiblesDelinquent				$	7,100
Due from Other Funds		14,100
Vouchers Payable					62,000
Due to Other Funds					8,400
Fund BalanceUnassigned					123,000
Property Tax Revenue					1,140,000
Miscellaneous Revenue					36,000
Expenditures		1,120,000
Other Financing UsesTransfer Out		27,000
Estimated Revenues Control		1,238,000
Appropriations Control					1,155,000
Estimated Other Financing UsesTransfer Out					27,000
Encumbrances		37,000
Budgetary Fund BalanceAssigned for Encumbrances					37,000
Budgetary Fund BalanceUnassigned					56,000
Total	$	2,651,500		$	2,651,500

Lone Wolf uses the purchase method of accounting for inventories and the lapsing method of accounting for encumbrances. Required: a. Prepare the closing entries for the general fund. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b. Prepare a general fundonly balance sheet at December 31, 20X1. (Follow the same sequence shown in the problem statement to select the appropriate answers. Amounts to be deducted should be indicated with minus sign.)