The citizens of Spencer County approved the issuance of $2,008,000 in 6 percent general obligation bonds to finance the construction of a courthouse annex. A capital projects fund was established for that purpose. The preclosing trial balance of the courthouse annex capital project fund follows: Debita $ 908,000 Credits $ 551,000 Trial Balance-December 31, 2020 Cash Contract payable Due from state government Encumbrances Expenditures-capital Intergovernmental grant ors premium on bonde OFS proceeds sale of bonda Budgetary fund balance-Reserve for encumbrances OPU Transfer out 192,000 108,000 1,854,000 395,000 57,000 2,000,000 100,000 57.000 $3,119,000 $3,119,000 Required: 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 Required A Required B Required C Prepare any closing entries necessary at year-end. (If no entry is required for a tu the first account field.) View transaction list :X: 1 Record the closing entry to transfer revenue and expenditure to fund balance. balan 2 Record the entry for transfer of encumbrances. redit Note : = journal entry has been entered SPENCER COUNTY Courthouse Annex Capital Projects Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 2020 Revenues Total Revenues Expenditures 5 Total Expenditures Excess (Deficiency) of Revenues Over Expenditures Other Financing Sources (Usts) Total Other Financing Sources (Uses) Net Change in Fund Balance Fund Balance, January 1 Fund Balance, December 31