Please give me the correct answer for interest expense, Net position, and fund balance, Jan 1

The City of Evansville operated a summer camp program for at-risk youth. Businesses and nonprofit organizations sponsor one or more youth by paying the registration fee for program participants. The following Schedule of Cash Receipts and Disbursements summarizes the activity in the program's bank account for the year. 1. At the beginning of 2020, the program had unrestricted cash of $18,000. Cash Basis 12 months $100,000 75,000 175,000 Cash receipts: Registration fees Borrowing from bank Total deposits Cash disbursements: Wages Payroll taxes Insurance (paid monthly) Purchase of bus Interest on bank note Total checks Excess of receipts over disbursements 46,575 7,000 8,000 80,000 2,250 143,825 $ 31,175 2. The loan from the bank is dated April 1 and is for a five-year period. Interest (6 percent annual rate) is paid on October 1 and April 1 of each year, beginning October 1, 2020. 3. The bus was purchased on April 1 with the proceeds provided by the bank loan and has an estimated useful life of five years (straight-line basis-use monthly depreciation). 4. All invoices and salaries related to 2020 had been paid by close of business on December 31, except for the employer's portion of December payroll taxes, totaling $800. Required: a. Prepare the journal entries, closing entries, and a Statement of Revenues, Expenses, and Changes in Fund Net Position assuming the City intends to treat the summer camp program as an enterprise fund. b. Prepare the journal entries, closing entries, and a Statement of Revenues, Expenditures, and Changes in Fund Balance assuming the City intends to treat the summer camp program as a special revenue fund. Reg A Entries Reg A Net Position Reg B Entries Reg B Fund Balance Prepare the journal entries including closing entries. (If no entry is required for a transaction/event, select "No Journal Er Required" in the first account field.) No Transaction General Journal Credit Debit 100.000 1 1a Cash 00 Operating Revenues 100.000 2 1b 75.000 Cash Long-term Note Payable O 75.000 3 1c Payroll Taxes Expense Wages Expense Insurance Expense Interest Expense Equipment Cash 000000 7.000 46,575 8.000 2.250 80.000 143.825 4 02 1.125 > Interest Expense Interest Payable O 1.125 5 03 12.000 > Depreciation Expense Accumulated Depreciation DO 12.000 6 4a 800 > Payroll Taxes Expense Payroll Taxes Payable 30 800 > 7 4b 100.000 7,800 48,575 Operating Revenues Payroll Taxes Expense Wages Expense Insurance Expense Depreciation Expense Interest Expense Net Position 8.000 12.000 2.250 > 23.378 % Reg A Entries Reg A Net Position Reg B Entries Reg B Fund Balance Prepare the Statement of Revenues, Expenditures, and Changes in Fund Balance assuming the City intends to treat the summer camp program as a special revenue fund. (Deductions should be entered as a negative amount.) CITY OF EVANSVILLE SUMMER CAMP SPECIAL REVENUE FUND Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 2020 Revenues: Charges for Services s 100,000 100,000 46,575 Total Revenues Expenditures: Current: Wages Expenditures Payroll Taxes Expenditures Insurance Expenditures Debt Service-Interest Capital >>> 7,800 8,000 2,250 80,000 144,625 (44,625) Total Expenditures Excess (Deficiency) of Revenues Over Expenditures Other Financing Sources: Debt Proceeds 75,000 Increase in Fund Balance Fund Balance, January 1 Fund Balance, December 31 30,375 219,625 X $ 250,000