Complete this question by entering your answers in the tabs below. Prepare a Statement of Net Position as of June 30,2020 . (Deductions should be entered as a ne Complete this question by entering your answers in the tabs below. Prepare a Statement of Cash Flows for the year ended June 30, 2020. Assume all debt and interest are relat outlay. Assume the entire construction work in progress liability (see item 3) was paid in entry 7 . Include res Complete this question by entering your answers in the tabs below. Record the transactions for the year in general joumal form. (If no entry is required for a transiction/event, select "No journal Entry Required" in the first account field.) Required B Required D The Town of Weston has a Water Utility Fund with the following trial balance as of July 1, 2019, the first day of the fiscal year: During the year ended June 30, 2020, the following transactions and events occurred in the Town of Weston Water Uaility Fund: 1. Accrued expenses at July i were paid in cash. 2. Billings to nongovernmental customers for water usage for the year amounteq to $1,381,000, bullings to the General Fund amounted to $109,000 3. Llabulities for the following were recorded during the year: 4. Materials and supplies were used in the amount of $276.000, all for costs of sales and services. 5. After collection effonts were unsuccessful, $14,100 of old accounts receivable were written off. 6. Accounts receivable collections totaled $1,472,400 from nongovernmental customers and $48,700 from the General Fund 7.51,041,400 of accounts payoble were poid in cash. 8 One year's interest in the amount of $176.100 was paid. 1. Accrued expenses at July 1 were paid in cash. 2. Billings to nongovernmental customers for water usage for the year amounted to $1,381,000, bellings to the General Fund amounted to $109,000 3. Liabilities for the following were recorded during the year: 4. Materials and supplies were used in the amount of $276,000, all for costs of sales and services. 5. After collection efforts were unsuccessful, $14,100 of old accounts receivable were written off. 6. Accounts receivable collections totaled $1,472,400 from nongovernmental customers and $48,700 from the General Fund. 7. \$1,041,400 of accounts payable were paid in cash. 8. One year's interest in the amount of $176,100 was paid. 9. Construction was completed on plant assets costing \$252000, that amount was transferred to Utility Plant in Service 10. Depreciation was recorded in the amount of $262100. 11. The Allowance for Uncollectible Accounts was increased by $10,000 12. As required by the loan agreement, cash in the amount of $102,000 was transferred to Restricted Assets for eventual redemption of the bonds. 13. Accrued expenses, all related to conts of sales and services, amounted to $90,000. 14. Nominal accounts for the year were closed. Required: o. Record the transactions for the year in general joumal form. b. Prepare a Statement of Revenues, Expenses, and Changes in Fund Net Position. c. Prepare a Statement of Net Position as of June 30,2020 d. Prepare a Statement of Cash Flows for the year ended June 30, 2020. Assume all debt and interest are related to capital outlay. Assume the entire construction work in progress liability (see item 3) was paid in entry 7 . Include restricted assets as cash and cash equivalents. In the reconciliation, assume the Accounts Receivable is netted against the Allowance account. Complete this question by entering your answers in the tabs below. Prepare a Statement of Revenues, Expenses, and Changes in Fund Net Position. (Deductions she amount.)
