View transaction list Journal entry worksheet B c Record the closure of revenue and expense accounts. ces Enter der bereits Transaction General Journal Debit Credit 12/a Masanai C Washington City created an Information Technology department four years ago to centralize Information technology (IT) functions for the city. The goal of the department was to reduce costs, avoid duplication of efforts, and provide up-to-date technology to all of the city's operations. The fund was designed to be self-supporting; that is, all costs are to be recovered through user fees, but any excess of fees over expenses should be less than 5 percent. The preclosing trial balance for the IT department as of last year, is shown below. Cash Due from Other Funds Materials and Supplies Inventory Machinery and Equipment Accumulated Depreciation Accounts Payable Due to Federal Government Due to other funds Net Position et Trivestment in Capital Assets Net position unrestricted Debits Credits (in thousands) $ 14, 500 4,25e 350 53.680 $ 30.100 2,550 2,650 1,200 23,50 12. Zee $ 72,700 5 72.700 During the current fiscal year ended December 31, the following transactions (summarized in thousands of dollars) occurred: 1. Gross employee wages were $57,600, including the employer's share of social security taxes amounting to $4100. Federal income and social security taxes withheld from that amount totaled $18.725 2. Office expenses in the amount of $3.700 were paid in cash 3. Materials and supplies purchased on account during the year were $8,400 4. A bis totaling $14,525 was received for utiles provided by Washington City's utility fund 5. Cosh paid to the federal government for payroll taxes was $23.000 6. Cosh paid to the Utility Fund was $4,500 7. Accounts payable st year-end totaled $2.950 8. Materials and supplies used during the year were 58.250 9. Charges to tents during the fiscal you were as follows