Using the Montgomery County, Maryland, preclosing trial balance at June 30, 20X9, presented here, prepare the county’s Capital Projects Fund (a) statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 20X9, and (b) balance sheet at June 30, 20X9.The long-term receivables are assigned to specific projects when collected. Bond indentures require maintaining a reserve for legal debt restrictions. The required balance of this reserve in the fund at June 30, 20X9, is$4,211,706.
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Using the Montgomery County Maryland preclosing trial balance at June

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