The citizens of Spencer County approved the issuance of $2,000,000 in 6 percent general obligation bonds to finance the construction of a courthouse annex. A capital projects fund was established for that purpose. The pre closing trial balance of the courthouse annex capital project fund follows:

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.

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Trial Balance-December 31, 2017 Cash Contract payable Due from state government Encumbrances Expenditures-capital Intergovernmental grant Deblts $ 900,000 areilis $ 545,000 185,000 100000 1,845000 385,000 50,000 2000,000 OFS: proceeds sale of bonds Budgetary fund balance- Reserve for encumbrances OFU: Transfer out 100,000 50,000 3,08000 3080,000