The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of

December 31, 2009, the last day of its fiscal year. The enterprise fund was

established this year through a transfer from the General Fund.

Debits Credits

Accounts payable 110,000

Accounts receivable 102,000

Accrued interest payable 4,000

Accumulated depreciation 45,000

Administrative and selling expenses 175,000

Allowance for uncollectible accounts 12,000

Capital assets 550,000

Cash 95,000

Charges for sales and services 503,000

Cost fo sales and services 347,000

Depreciation expense 45,000

Due from General Fund 40,000

Interest expense 18,000

Interest revenue 28,000

Transfer in from General Fund 202,000

Revenue bonds payable 475,000

Supplies inventory 7,000

Totals 1,379,000 1,379,000

Prepare the closing entries for December 31.