Entries in this enterprise fund do not have to be recorded at the government-wide level since enterprise funds and business-type activities at the government-wide level both use the same (accrual) basis of accounting and same (economic resources) measurement focus. Thus, the same information recorded in the accounts of the enterprise fund can also, with only slight modification, be reported as business-type activities at the government-wide level.

Record the following events and transactions, which occurred during the year ended December 31, 2020.

9) Interest of $35,000 that was recorded as an expense in 7b-8 was determined to have been incurred during construction and should be charged to Construction Work in Progress.

10) A progress billing for $390,000 was received from the construction contractor and paid.

11) Some assets under construction at the start of the year and some started during the year were completed and placed in service. The costs incurred on this construction totaled $1,120,750.

12) Collection efforts were discontinued on bills amounting to $6,150; the customers owing the bills had paid deposits and interest to the water utility in the amount of $1,750. (Note: Remember to adjust cash accounts for amounts no longer restricted.)

Previous Information that may be needed:

CITY OF BINGHAM Water Utility Fund Trial Balance As of December 31, 2019 Debits $526,692 67,840 181,524 Credits Cash Restricted Cash-Customer Deposits Customer Accounts Receivable Accumulated Provision for Uncollectible Accounts Inventory of Supplies Due from Other Funds Utility Plant in Service Accumulated Depreciation- Utility Plant Construction Work in Progress Vouchers Payable Customer Deposits Accrued Interest Payable $5,266 101,799 22,400 21,042,463 4,765,842 1,402,777 83,541 67,840 477,510 CITY OF BINGHAM Water Utility Fund Trial Balance As of December 31, 2019 Debits $526,692 67,840 181,524 Credits Cash Restricted Cash-Customer Deposits Customer Accounts Receivable Accumulated Provision for Uncollectible Accounts Inventory of Supplies Due from Other Funds Utility Plant in Service Accumulated Depreciation- Utility Plant Construction Work in Progress Vouchers Payable Customer Deposits Accrued Interest Payable $5,266 101,799 22,400 21,042,463 4,765,842 1,402,777 83,541 67,840 477,510