Washington City created an Information Technology department in 2013 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 citys 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 4%. The pre-closing trial balance for the IT department as of December 31, 2017 is shown below.

DEBITS Credits

Cash $14,700

Due from Other Funds 4,880

Materials and Supplies Inventory 430

Machinery and Equipment 54,900

Accumulated Depreciation $ 31,200

Accounts Payable 2,640

Payroll Taxes Payable 2,760

Due to Other Funds 1,210

Net Position Net Investment in Capital Assets 23,700

Net Position Unrestricted 13,400 $

Total 74,910 $ 74,910

During the fiscal year ended December 31, 2017, the following transactions (summarized) occurred:

1. Gross employee wages were $61,400, including the employers share of social security taxes amounting to $4,370. Federal income and social security taxes withheld from that amount totaled $19,970.

2. Office expenses in the amount of $3,970 were paid in cash.

3. Materials and supplies purchased on account during the year were $9,020.

4. Received a bill totaling $15,600 for utilities provided by Washington Citys utility fund.

5. Cash paid to the federal government for payroll taxes was $24,600.

6. Cash paid to the Utility Fund was $14,700.

7. Accounts payable at year end totaled $3,150.

8. Materials and supplies used during the year were $8,830.

9. Charges to departments during the fiscal year were as follows: General Fund $ 61,500 Special Revenue Fund 21,800

10. Unpaid balances at year end were: General Fund $ 3,700 Special Revenue Fund 2,000

11. The depreciation for the year was $5,900.

12. Revenue and expense accounts for the year were closed.

Prepare closing entry for the Information Technology Fund for 2017. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)