Here is the pre closing December 31, 2020 trial balance for the general fund of Lancaster...

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Here is the pre closing December 31, 2020 trial balance for the general fund of Lancaster County: All numbers are in thousands. Cash Taxes receivable Estimated revenues Estimated other financing sources General expenditures Capital outlay Debt service: principal payments Debt service: interest payments Transfers out Due from other funds Allowance for uncollectible taxes Accounts payable Due to other funds Property tax revenues Speeding ticket revenues Transfers in Bond proceeds Appropriations Estimated other financing uses Fund balance-unassigned Totals Debit $ 371,000 113,000 1,290,000 60,000 1,015,000 25,000 2,000 8,000 20,000 12,000 $2,916,000 Credit $45,000 50,000 21,000 950,000 400,000 8,000 50,000 1,085,000 22,000 285,000 $2,916,000 By how much do the closing entries at the end of 2020 increase fund balance-unassigned? a. $37,000 b. $40,000 C. $95,000 Here is the pre closing December 31, 2020 trial balance for the general fund of Lancaster County: All numbers are in thousands. Cash Taxes receivable Estimated revenues Estimated other financing sources General expenditures Capital outlay Debt service: principal payments Debt service: interest payments Transfers out Due from other funds Allowance for uncollectible taxes Accounts payable Due to other funds Property tax revenues Speeding ticket revenues Transfers in Bond proceeds Appropriations Estimated other financing uses Fund balance-unassigned Totals Debit $ 371,000 113,000 1,290,000 60,000 1,015,000 25,000 2,000 8,000 20,000 12,000 $2,916,000 Credit $45,000 50,000 21,000 950,000 400,000 8,000 50,000 1,085,000 22,000 285,000 $2,916,000 By how much do the closing entries at the end of 2020 increase fund balance-unassigned? a. $37,000 b. $40,000 C. $95,000

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