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Using the following trial balance for Ngo City's debt service fund, answer the questions that...

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Using the following trial balance for Ngo City's debt service fund, answer the questions that follow: Ngo County Debt Service Fund Pre-Closing Trial Balance June 30, 2018 Credits Debits 27,500 44,500 500,000 569,500 Cash Taxes receivable Due from general fund Fund balance Estimated other financing sources Estimated revenue Revenue - sales taxes OFS - interfund transfers in Appropriations Expenditures - bond interest Expenditures - bond principal 1,000,000 426,000 428,500 1,000,000 1,418,000 418,000 1,000,000 1. What is the budgetary entry that was recorded on 7/1/2017? 2. Show the year-end closing entries that would be recorded 6/30/2018. 3. What are balances in fund balance at: a. Beginning of the fiscal year, 7/1/2017 b. Pre-closing, 6/30/2018 c. Post-closing, 6/30/2018 4. Is the City's general fund better off or worse off than estimated and by how much? 5. Show me your fund balance t-account

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