What is the ending fund balance for Central City’s Operating Fund, given the following:
$10,000 – Beginning fund balance
Annual activity:
$6,000 – Increase in pledges receivable
$14,000 – Increase in accounts payable
$4,000 – Expenditure for supplies
$12,000 – Grant revenue
$3,000 – Acquisition of fireworks for July 4th celebration
$7,000 – Payment of accounts payable
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