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5-4 The citizen of Spencer County approved the issuance of

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The citizen of Spencer County approved the issuance of $2,000,000 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:
Trial Balance - December 31, 2012 Debit Credits

Cash $ 1,265,000
Contract payable $ 550,000
Due from state government 200,000
Encumbrances 750,000
Expenditures - capital 1,485,000
Intergovernmental grant 400,000
OFS: premium on bonds 35,000
OFS: proceeds sale of bonds 2,000,000
Budgetary fund balance - 750,000
Reserve for encumbrances
Transfer out 35,000 _________
$ 3,375,000 $ 3,735,000

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 unexpected resources are restricted to construction of the courthouse annex.

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