Question: Problem 2:Problem 2: Debt service fund financial statement The information below pertains to the debt service fund for the Village of Greenville for the year
Problem 2:Problem 2: Debt service fund financial statement The information below pertains to the debt service fund for the Village of Greenville for the year ended December 31, 2021: > Fund balance restricted at December 31, 2020 52,500 > Property tax levy for 2021 to service general obligation bonds 83,500 > Estimated revenue from property taxes in the debt service fund budget for 2021 82,000 > Property taxes collected during 2021 79,000 > Property taxes expected to be collected from 1/1/22 to 3/1/22 3,000 > Investment in U.S. treasury bills as of 12/31/21 51,000 > Cash at 12/31/21 ? > Matured interest paid during 2021 45,000 > Matured bond principal paid during 2021 30,000 >Interest income from treasury bills for 2021 (includes $300 of accrued interest that will be received in February, 2022) 2,500 > Fiscal fees incurred during 2021 4,000 > Fiscal fees paid during 2021 3,000 > Accrued but unmatured interest on bonds at 12/31/21 6,000 > Bond principal that will mature in April, 2022 20,000 >Transfer in from a terminated capital projects fund during 2021 8,000 Required: Prepare the balance sheet for the debt service fund as of December 31, 2021
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