The village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020. the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund

Debits Credits

Accounts payable $ 103,000

Accounts receivable $ 25,800

Accrued interest payable 28,900

Accumulated depreciation 46,500

Administrative and selling expenses 48,500

Allowance for uncollectible accounts 12400

Capital assets 707,000

Cash 90,200

charges for sales and services 553,000

Cost of sales and services 495,000

Depreciation expense 46,500

Due from General Fund 17,100

Interest expense 4,300

Transfer in from general fund 115,200

Banknote payable 625,300

Supplies inventory 18,300

Totals $1,488,600 $1,488,600

a. Prepare the closing entries for December 31

b. Prepare the Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31

c. Prepare the Net Position section of the December 31, balance sheet