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 InflowsProperty Taxes			38,000
Due from Capital Projects Fund		5,000
Due to Debt Service Fund			17,000
Encumbrances		63,000
Estimated Revenue (Control)		534,000
Estimated Other Financing Uses (Control)			35,000
General Government Expenditures		195,000
Other Revenues			55,000
Property Tax Revenue			491,000
Public Safety Expenditures		238,000
Budgetary Fund Balance
Reserve for Encumbrances			63,000
Supplies Inventory		24,000
Tax Anticipation Note Payable			100,000
Taxes Receivable		202,000
Transfer Out (to Internal Service Fund)		33,000
Fund Balance			140,000
Totals		$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 outstanding encumbrances are for capital additions.