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Verify the accuracy of all your preceding entries in the Street Improvement Fund and governmental...

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Accounting

Verify the accuracy of all your preceding entries in the Street Improvement Fund and governmental activities general journals, then click [Post entries] of each entity to post the entries to the respective general ledgers. For the Street Improvement Fund only, prepare year-end closing entries for 2020 and post them to the funds general ledger. Accounts should be closed to Fund Balance Restricted. (Note: You must click on the box for [Closing Entry] to check mark it; Closing Entry will appear in the [Add description] field for the account being closed. Be sure the check mark is present for each account being closed.) Click [Post entries] to post the closing entry. Cash remaining in the Street Improvement Fund at year-end is not transferred to the debt service fund since other street improvement projects will be undertaken during the next two years. Closing entries will be made in the governmental activities general journal in Chapter 9 of this cumulative problem. Ignore those entries for now

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