Following is the information of the Water Utility Fund for fiscal year $2023.$

The amount in the Accrued Utility Revenue account was reversed.

Billings to customers for water usage during fiscal year $2023$ totaled $$3,135,405$; $$203,800$ of the total was billed to the General Fund.

Cash in the amount of $$273,323$ was received. The cash was for interest earned on investments and $$86,200$ in accrued interest.

Expenses accrued for the period were management and administration, $$378,866$; maintenance and distribution, $$724,393$; and treatment plant, $$730,843.$

Cash receipts for customer deposits totaled $$2,555.$

Cash collections on customer accounts totaled $$3,098,640,$ of which $$220,585$ was from the General Fund.

Cash payments for the period were as follows: Accounts Payable, $$1,539,751$; interest $($which includes the interest payable$),$ $$416,797$; bond principal, $$391,000$; machinery and equipment, $$570,299$; and return of customer deposits, $$891.$

A state grant amounting to $$464,063$ was received to help pay for new water treatment equipment.

Accounts written off as uncollectible totaled $$9,783.$

The utility fund transferred $$781,624$ in excess operating income to the General Fund.

Adjusting entries for the period were recorded as follows: depreciation on buildings was $$234,540$ and on machinery and equipment was $$351,810$; the allowance for uncollectible accounts was increased by $$14,571$; an accrual for unbilled customer receivables was made for $$683,947$; accrued interest income was $$15,485$; and accrued interest expense was $$59,996.$

The Revenue Bond Payable account was adjusted by $$391,000$ to record the current portion of the bond.

Closing entries and necessary adjustments were made to the net position accounts.