The preclosing trial balance of the general fund of Shorewood Village for fiscal year ended June 30, 2019, is as follows:

1. Prepare closing entries.
2. Prepare a budget to actual comparison schedule. (Assume there are no differences between the original and final budgets.)
3. Prepare a balance sheet as of June 30, 2019.

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Debit 190,000 120,000 Credit Cash Receivables (net) Vouchers Payable Fund Balance-Assigned Fund Balance-Unassigned Budgetary Fund Balance Estimated Revenues Estimated Other Financing Sources. 91,000 60,000 92,000 50,000 600,000 150,000 650,000 50,000 Estimated Other Financing Uses Expenditures Encumbrances 588,000 60,000 595,000 166,500 Other Financing Sources Other Financing Uses 46,500 1754,500 Totals 1754,500