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

	Debit			Credit
Cash	$	98,000
Property Taxes ReceivableDelinquent		104,700
Allowance for UncollectiblesDelinquent				$	7,200
Due from Other Funds		14,200
Vouchers Payable					64,000
Due to Other Funds					8,700
Fund BalanceUnassigned					116,000
Property Tax Revenue					1,140,000
Miscellaneous Revenue					41,000
Expenditures		1,130,000
Other Financing UsesTransfer Out		30,000
Estimated Revenues Control		1,231,000
Appropriations Control					1,150,000
Estimated Other Financing UsesTransfer Out					30,000
Encumbrances		36,000
Budgetary Fund BalanceAssigned for Encumbrances					36,000
Budgetary Fund BalanceUnassigned					51,000
Total	$	2,643,900		$	2,643,900

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.)

*Record the entry to close the budgetary accounts.

*Record the entry to close the remaining encumbrances by reversing the remaining budgetary balance.

*Record the entry to reserve the fund balance for encumbrances that lapse, but are expected to be honored in 20X2.

*Record the entry to close the operating statement accounts.

*Record the entry to close the transfer out.

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.)