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Accounting

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Required information [The following information applies to the questions displayed below.] Following is Grant County's debt service fund pre-closing trial balance for the fiscal year ended June 30. Using information provided by the trial balance, answer the following. a. Assuming the budget was not amended, what was the budgetary journal entry recorded at the beginning of the fiscal year? (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the budgetary Journal Entry at the beginning of the fiscal year. Note: Enter debits before credits. b. What is the budgetary fund balance? c. Did the debt service fund pay debt obligations related to lease agreements? Yes No d. Did the debt service fund perform a debt refunding? Yes No Prepare a statement of revenues, expenditures, and changes in fund balances for the debt service fund for the year ended June (Negative amounts should be indicated by a minus sign.)

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