The following is a trial balance and several transactions that relate to Smith Town's Public Parks Bond Fund.
Smith Town Debt Service Fund Public Parks Bond FundTrial Balance July 1, 2014 Cash $50,000
Investments 30,000
Fund Balance - restricted $90,000
Total $90,000 $90,000

The following transactions took place between July 1, 2014 and June 30, 2015:
1. The city council of Smith Town adopted the budget for the Public Parks Bond Fund for the fiscal year. The estimated revenues totaled $90,000, the estimated other financing sources totaled $10,000, and the appropriations totaled $90,000.
2. The General Fund transferred $10,000 to the fund.
3. To provide additional resources to service the bond issue, a property tax was levied upon the citizens. The total levy was $90,000, of which $85,000 was expected to be collected.
4. Property taxes of $85,000 were collected.
5. Revenue received in cash from investments totaled $2,000.
6. A fee of $800 was paid to the fiscal bond agent for bond issue costs
7. Interest in the amount of $37,500 and principal in the amount of $50,000 were paid in cash to the fiscal bond agent.
8. At the end of the accounting period, a net increase in the fair value of investments totaled $1,000.
Use the preceding information to perform the following:
a) Prepare all journal entries necessary to record the preceding transaction for the Public Parks Bond Fund (DSF). Include closing entries.
b) Prepare a statement of revenues, expenditures and changes in fund balance for the Public Parks Bond Fund (assume all fund balance is restricted).