During the fiscal year ending June 30, 2013, all transactions of Salleytown were recorded in the general fund due to the inexperience of the town's bookkeeper. The trial balance of Salleytown's general fund is as follows:

The following information is also available (in thousands):
1. The accounts receivable of $ 11,500 includes $ 1,500 due from the town's water utility. Accounts for the municipal water utility operated by the town are maintained in a separate fund.
2. The balance in Taxes receivable-current is now considered delinquent, and the town estimates that $24,000 will be uncollectible.
3. On June 30, 2013, the town retired, at face value, 6-percent general obligation serial bonds totaling $40,000. The bonds were issued on July 1, 2008, at face value of $200,000. Interest and principal paid during the year ended June 30,2013, were charged to bonds payable.
4. During the year, supplies totaling $128,000 were purchased and charged to expenditures. The town conducted a physical inventory of supplies on hand at June 30, 2013, and this physical count disclosed that supplies of $84,000 were used..The purchases method is used and ending inventory is recognized.
5. Expenditures for the year ended June 30, 2013, included $11,200 applicable to purchase orders issued in the prior year. Outstanding purchase orders at June 30, 2013, not recorded in the accounts, amounted to $5,000. The legal budgetary basis is used.
6. On June 28, 2013, the state revenue department informed the town that its share of a state-collected, locally shared tax would be $34,000.
7. During the year, equipment with a book value of $7,900 was removed from service and sold for $4,600. In addition, new equipment costing $90,000 was purchased. The transactions were recorded in general property.
8. During the year, 100 acres of land were donated to the town for use as an industrial park. The land had a value of $125,000. This donation was not recorded.
Required
a. Prepare the formal reclassification, adjusting, and closing journal entries for the general fund as of June 30, 2013.
b. Present, in good form, the general fund's statement of revenues, expenditures, and changes in fund balances for the fiscal year ended June 30, 2013.
c. Present, in good form, the general fund's balance sheet for the fiscal year ended June 30, 2013.

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SALLEYTOWN General Fund Trial Balance June 30, 2013 (in thousands) Debit Credit Cash e Short-term investments.. Accounts receivable.ece.. $ 16,800 40,000 11,500 30,000 $ 50,000 520,000 Expenditures. 382,000 Estimated revenues520,000 Revenues General propertyo. 560,000 85,400 52,000 Fund balance-unassigned..._.._.... Totals.$1,137,700 $1,137,700 7,700