ed The citizens of Spencer County approved the issuance of $2,024,000 in 6 percent general obligation...

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ed The citizens of Spencer County approved the issuance of $2,024,000 in 6 percent general obligation bonds to finance the construction of a courthouse annex. A capital projects fund was established for that purpose. The preclosing trial balance of the courthouse annex capital project fund follows: Trial Balance-December 31, 2024 Cash Contract payable Due from state government Encumbrances Expenditures-capital Intergovernmental grant Other Financing Sources: premium on bonds k Other Financing Sources: proceeds sale of bonds Budgetary fund balance-Reserve for encumbrances Other Financing Uses: Transfer out Debits $916,000 Credits $559,000 208,000 116,000 1,862,000 403,000 65,000 2,024,000 116,000 65,000 $3,167,000 $3,167,000 nces Required: a. Prepare any closing entries necessary at year-end. b. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the courthouse annex capital project fund. c. Prepare a Balance Sheet for the courthouse annex capital project fund, assuming all unexpended resources are restricted to construction of the courthouse annex. Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare any closing entries necessary at year-end. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. View transaction list Journal entry worksheet 1 2 Record the closing entry to transfer revenue and expenditure to fund balance. ed The citizens of Spencer County approved the issuance of $2,024,000 in 6 percent general obligation bonds to finance the construction of a courthouse annex. A capital projects fund was established for that purpose. The preclosing trial balance of the courthouse annex capital project fund follows: Trial Balance-December 31, 2024 Cash Contract payable Due from state government Encumbrances Expenditures-capital Intergovernmental grant Other Financing Sources: premium on bonds k Other Financing Sources: proceeds sale of bonds Budgetary fund balance-Reserve for encumbrances Other Financing Uses: Transfer out Debits $916,000 Credits $559,000 208,000 116,000 1,862,000 403,000 65,000 2,024,000 116,000 65,000 $3,167,000 $3,167,000 nces Required: a. Prepare any closing entries necessary at year-end. b. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the courthouse annex capital project fund. c. Prepare a Balance Sheet for the courthouse annex capital project fund, assuming all unexpended resources are restricted to construction of the courthouse annex. Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare any closing entries necessary at year-end. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. View transaction list Journal entry worksheet 1 2 Record the closing entry to transfer revenue and expenditure to fund balance.