Trial Balance June 30, 2019 Trial Balance June 30, 2029 July 1, 2019, to June 30, 2020 Debits Credits $1,370,000 $1,396,800 1,482,400 1,375,600 Cash Taxes Receivable $571,600 36,000 $607,600 $544,800 62,800 $607,600 Allowance for Uncollectible Taxes Accounts Payable Fund Balance 5,600 1,387,600 5,600 102,000 500,000 $607,600 10,200 1,350,000 33,000 10,200 64,400 533,000 $ 607,600 There were no transfers into the General Fund, but there was one transfer out. Prepare journal entries to record the transactions fo the fiscal year ended June 30, 2020. Include closing entries. (If no entry is required for a transaction/event, select "No Journal Required" in the first account field.) Answer is complete but not entirely correct. Credit No Event Debit 1.402.400 1 1 General Journal Taxes Receivable Revenues Control Allowance for Uncollectible Taxes 10.200 1 392.2003 3 of 5 O here to search Savod Dobit Credit 1,402,400 Record the transfer of taxes receivable to revenues control account 10,200 1,392,200 Record the receipt of taxes and the uncollectibles. 1,370,000 5,600 1,375,600 Record the expenditures payable. Record the payment of expenditure. 1,350,000 1,350,000 5 Record the transfer out of general fund. Hint: This is the plug needed to make cash balance after considering the other entries. 1,387,600 1,387,600 6 Record the transfer of revenue and expenditure control accounts to fund balance. 9.200 9.200 Note: journal entry has been entered 1.447.400 6 6 1 350.000 33 000 Revenues Control Expenditures Control Fund Balance --Unreserved