n. The developer in item (l) remits payment for the note plus interest. 1. Prepare journal entries to record the general fund transactions. 2. Prepare closing entries for the general fund. 3. Prepare...

n. The developer in item (l) remits payment for the note plus interest.

1. Prepare journal entries to record the general fund transactions.

2. Prepare closing entries for the general fund.

3. Prepare a budgetary comparison schedule. On January 1, 2019, the unassigned fund balance showed a debit balance (deficit) of $180,000.