Augusta has a municipal water and gas utility district (MUD). The trial balance on January 1, 20X1, follows:

Required: Prepare entries for the MUD enterprise.

Part A. Journal entries:

- Record the charges to customers

- Record the collections on account

- Record the receipt of loan from the general fund.

- Record the extension of the water and gas lines

- Record the payment for the extended lines

- Record the expenses

- Record the payment of the approved vouchers, interest, and payment to the Central Stores Fund

- Record the entry to reduce the revenue for the uncollectible accounts.

- Record the entry to adjust the depreciation for the period.

PART A-D

b. Prepare a statement of net position for the fund for December 31, 20X1 (Select the assets account based on the order listed in the question table. Amounts to be deducted should be indicated by minus sign) AUGUSTA MUD Enterprise Fund Statement of Net Psico December 31, 201 Assets Total Ass Libes SPICY Next > Unrestricted Total 110,400 $741,600 $741,60 Additional Information for 20x1: 1 Charges to customers for water and gas were $420,700. collections were $433,100 2. A loan of $30,480 for two years was received from the general fund 3. The water and gas lines were extended to a new development at a cost of $75,800. The contractor was paid 4. Supplies were acquired from central stores internal service fund) for $14,400. Operating expenses were $329700, and interest expense was $30.480. Payment was made for the interest and the payable to central stores, and $325,500 of the vouchers were pald 5. Adjusting entries were as follows estimated uncollectible accounts recevable. $8.000, depreciation expense, $33,300; and supplies expense, S16 600. Required: a. Prepare entries for the MUD enterprise fund for 20Xt and closing entries (if no entry is required for a transaction/event, select "No journal entry required in the first account field.) Augusta has a municipal water and gas utility district (MUD) The trial balance on January 1 20x1 follows: Crede Cash 599,00 Accounts Receivable 25. Inventory of Supplies 9.200 Land 121.00 Plant bent Accumulated Depreciation Vouchers Payable 16,600 Bonds Yayhte, Sew, et Position Invested in Capital Assets, Met of Related Debt Unrestricted 11. $141.38360 Additional Information for 20xt: 1. Changes to customers for water and gas were $420700 collections were $433100 2. A loan of 530 480 for two years was received from the generalford 3 The water and gases were extended to a new development at a cost of $75.800. The contractor was paid 4. Supplies were scquired from central stores internal servicefund) for $14.400 Operating expenses were 5329700, and interest expense was $30.480. Payment was made for the interest and the payable to central stores and 532.5 500 of the vouchers were Dald 5. Adjusting entries were as follows estimated uncollectible accounts receivable $8.000 depreciation expense 533.300 and

c. Prepare a statement of revenues, expenses, and changes in fund net position for 20X1 Assume that the $508,000 of the 6 percent bonds is related to the net capital assets of land and of plant and equipment AUGUSTA MUD Enterprise Fund Statement of Revenue Expenses and Changes in Fund Net Pouton For Fiscal Year Ended December 31:20X1 Revenue Expenses Non operating Expand 3 P HE Next > d. Prepare a statement of cash flows for 20X1. (Amounts to be deducted should be indicated by minus sign) AUGUSTA MUD Enterprise Bund Statement of Cash Flows For the Year Ended December 31, 20X1 Cash Flows from Operating Activities $ 0 Cash Flows from Noncapital Financing Activities Cash Flows from Capital and Related Financing Activities