PLEASE HELP ME CORRECT THE AREA THAT ARE BOLD. THE OTHER AREAS ARE CORRECT.

The City of Sweetwater maintains an Employees Retirement Fund, a single-employer defined benefit plan that provides annuity and disability benefits. The fund is financed by actuarially determined contributions from the citys General Fund and by contributions from employees. Administration of the retirement fund is handled by General Fund employees, and the retirement fund does not bear any administrative expenses. The Statement of Fiduciary Net Position for the Employees Retirement Fund as of July 1, 2019, is shown here:

CITY OF SWEETWATER
Employees Retirement Fund
Statement of Fiduciary Net Position
As of July 1, 2019
Assets
Cash	$	138,000
Accrued Interest Receivable		58,200
Investments, at Fair Value:
Bonds		4,507,000
Common Stocks		1,308,000
Total Assets		6,011,200
Liabilities
Accounts Payable and Accrued Expenses		351,500
Fiduciary Net Position Restricted for Pensions	$	5,659,700

During the year ended June 30, 2020, the following transactions occurred:

1. The interest receivable on investments was collected in cash.
2. Member contributions in the amount of $276,300 were received in cash. The citys General Fund also contributed $809,000 in cash.
3. Annuity benefits of $736,000 and disability benefits of $165,000 were recorded as liabilities.
4. Accounts payable and accrued expenses in the amount of $957,000 were paid in cash.
5. Interest income of $244,000 and dividends in the amount of $32,300 were received in cash. In addition, bond interest income of $52,000 was accrued at year-end.
6. Refunds of $86,000 were made in cash to terminated, nonvested participants.
7. Common stocks, carried at a fair value of $508,000, were sold for $484,000. That $484,000, plus an additional $313,000, was invested in stocks.
8. At year-end, it was determined that the fair value of stocks held by the pension plan had decreased by $49,000; the fair value of bonds had increased by $41,000.
9. Nominal accounts for the year were closed.

Required: a. Record the transactions on the books of the Employees Retirement Fund. b. Prepare a Statement of Changes in Fiduciary Net Position for the Employees Retirement Fund for the year ended June 30, 2020. c. Prepare a Statement of Fiduciary Net Position for the Employees Retirement Fund as of June 30, 2020.

• Required A
• Required B
• Required C

Record the transactions on the books of the Employees Retirement Fund. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

No	Transaction	General Journal	Debit	Credit
1	01	Cash answer correct	58,200 answer correct
		Accrued Interest Receivables answer correct	not attempted	58,200 answer correct
2	02	Cashselected answer correct	1,085,300 answer correct
		AdditionsEmployer Contributions answer correct		809,000 answer correct
		AdditionsMember Contributions answer correct		276,300 answer correct
3	03	DeductionsAnnuity Benefits answer correct	736,000 answer correct
		DeductionsDisability Benefits answer correct	165,000 answer correct
		Accounts Payableselected answer correct		901,000 answer correct
4	04	Accounts Payable answer correct	957,000 answer correct
		Cashselected answer correct		957,000 answer correct
5	5a	Cashselected answer correct	276,300 answer correct
		AdditionsDividend Incomeselected answer incorrect		32,300 answer incorrect
		AdditionsInterest Incomeselected answer incorrect		244,000 answer incorrect
6	5b	Cash answer incorrect	276,300 answer incorrect
		Accrued Interest Receivables answer incorrect		52,000 answer correct
7	06	DeductionsRefunds to Term Employees answer correct	86,000 answer correct
		Cash answer correct		86,000 answer correct
8	7a	Cashselected answer correct	484,000 answer correct
		AdditionsNet Decrease in Fair Values answer correct	24,000 answer correct
		Investments in Common Stocks answer correct		508,000 answer correct
9	7b	Investments in Common Stocks answer correct	797,000 answer correct
		Cashselected answer correct		797,000 answer correct
10	08	Investment in Bonds answer correct	41,000 answer correct
		AdditionsNet Decrease in Fair Values answer correct	8,000 answer correct
		Investments in Common Stocks answer correct		49,000 answer correct
11	09	AdditionsMember Contributions answer correct	276,300 answer correct
		AdditionsEmployer Contributions answer correct	809,000 answer correct
		AdditionsInterest Income answer correct	244,300 answer incorrect
		AdditionsDividend Incomes answer correct	32,300 answer correct
		AdditionsNet Decrease in Fair Values answer correct		32,000 answer correct
		DeductionsAnnuity Benefits answer correct		736,000 answer correct
		DeductionsDisability Benefits answer correct		165,000 answer correct
		DeductionsRefunds to Term Employees answer correct		86,000 answer correct
		Net Position: Restricted for OPEB Benefits answer correct		342,900 answer incorrect