The total expenditures for 4-2 B was $433,000. true or false

42. The Village of Seaside Pines prepared the following General Fund Trial Balance as of December 31, 2017, the last day of its fiscal year. Control accounts are used for budgetary entries. Debits Credits Accounts Payable $ 19,000 Allowance for Uncollectible Taxes 12,000 Appropriations (Control) 494,000 Budgetary Fund Balance 5,000 Cash $175,000 Deferred Inflows-Property Taxes 38,000 5,000 17,000 63,000 534,000 35,000 195,000 55,000 491,000 Due from Capital Projects Fund Due to Debt Service Fund Encumbrances Estimated Revenue (Control) Estimated Other Financing Uses (Control) General Government Expenditures Other Revenues Property Tax Revenue Public Safety Expenditures Budgetary Fund Balance- Reserve for Encumbrances Supplies Inventory Tax Anticipation Note Payable Taxes Receivable Transfer Out (to Internal Service Fund) Fund Balance Totals 238,000 63,000 24,000 100,000 202,000 33,000 140,000 $1,469,000 $1,469,000 1. Prepare the closing entries for December 31. (It is not necessary to use control accounts and subsidiary ledgers.) 2. Prepare the Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund for the year ended December 31. 3. Prepare the Fund Balance section of the December 31 Balance Sheet assuming there are no restricted or committed net resources and the out- standing encumbrances are for capital additions