ASAP

Problem: Consider the following financial data and additional information relating to Pilotsville School District:

31 December 2021 Balance Sheet

Cash		$ 36,600
Taxes receivable -- current	$50,000
Less: Allowance for uncollectible taxes	8,000	42,000
Inventory		17,000
Total assets		95,600
Vouchers payable		29,000
Fund balance assigned	4,600
Fund balance nonspendable	17,000
Fund balance -- unassigned	45,000
Total fund balance		66,600

Additional Information

1. The 2021 budget includes anticipated revenue (all from property taxes) of $287,000 and authorized expenditures of $293,000.
2. The total property tax levy was $300,000, with 13,000 estimated as uncollectible.
3. Tax collections during 2021 included $45,000 from 2014 taxes and $238,000 from 2021 taxes. Remaining but unpaid 2014 taxes were written off. Unpaid 2015 taxes due at year-end are reserved (15%).
4. Although not budgeted, old school desks with an original cost of $1200 were sold for $800. It is estimated that that 30% of their useful life remained at the time of sale.
5. Although not budgeted, new school desk were purchased near year-end for $2,000.
6. Vandalism necessitated unexpected repair and cleanup costs of $3,000.
7. Other purchases of services and supplies of the general fund totaled $286,000.
8. Supplies inventory at year-end per physical inventory totaled $13,000. (Assume the consumption method of accounting for inventory is used.)
9. Vouchers outstanding at year-end totaled $17,000.
10. Purchase orders issued and outstanding for goods and services not yet received totaled $7,000.
11. The 2020 encumbrance for $4,600 (in the assigned fund balance) was cancelled when the goods ordered were found to be defective

Required:

1. Prepare all the 2021 journal entries for the general fund.
2. Prepare all the closing journal entries for the general fund.
3. Prepare a general fund balance sheet as of 12/31/21 and 2021 statement of revenues, expenditures, and changes in fund balance.