The Following Information Is Provided About Some of the Town

Essay

The following information is provided about some of the Town of Truesdale's General Fund operating statement and budgetary accounts for the fiscal year ended June 30.
$\begin{array}{lr} & \$ 3,150,000 \\ \text { Estimated revenues } & 3,190,000 \\ \text { Revenues } & 3,185,000 \\ \text { Appropriations } & 3,175,000 \\ \text { Expenditures } & 400,000 \\ \text { Estimated other financing sources } & 20,000 \\ \text { Encumbrances } & 20,000 \\ \text { Encumbrances outstanding } & \text { (calculate) } \\ \text { Budgetary fund balance } & \end{array}$
The Town of Truesdale will honor all of its outstanding encumbrances in the next fiscal period. Prepare the journal entry(ies) to close budgetary accounts required to be closed at the fiscal year end using the information provided. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)