The Balance Sheets of the General Fund and the Street and Highway Fund of the City of Monroe as of December 31, 2019, follow. These (beginning) balances have been entered in the proper general ledger accounts, as of 1/1/2020.   CITY OF MONROE General Fund Balance Sheet As of December 31, 2019 Assets Cash $503,000 Taxes receivable $210,000 Less: Estimated uncollectible taxes (37,000) net 173,000 Interest and penalties receivable on taxes 5,200 Less: Estimated uncollectible interest and penalties (950) net 4,250 Due from state government 204,000 Total assets $884,250 Liabilities, Deferred Inflows, and Fund Equity Liabilities: Accounts payable $ 99,000 Due to other funds 27,000 Total liabilities 126,000 Deferred inflows – Property taxes 21,000 Fund equity: Fund balance—assigned (for outstanding encumbrances) $19,000 Fund balance—unassigned 718,250 Total fund balance 737,250 Total liabilities, deferred inflows and fund equity $884,250 CITY OF MONROE Street and Highway Fund Balance Sheet As of December 31, 2019 Assets Cash $19,000 Investments 63,000 Due from state government 107,000 Total assets $189,000 Liabilities and Fund Equity Liabilities: Accounts payable $10,000 Fund equity: Fund balance—assigned for streets and highways 179,000 Total liabilities and fund equity $189,000 3–C. This portion of the continuous problem continues the General Fund and special revenue fund examples by requiring the recording and posting of the