Following is the June 30, 2019, statement of net position for the Water Utility Fund.

CITY OF BAY LAKE
Water Utility Fund
Statement of Fund Net Position
June 30, 2019
	Assets
	Current assets:
	Cash and investments					$	1,775,885
	Accounts receivable (net of $13,373 provision for uncollectible accounts)						307,007
	Accrued utility revenue						500,100
	Due from General Fund						29,317
	Interest receivable						82,017
	Total current assets						2,694,326
	Restricted assets:
	Cash						9,198
	Capital assets:
	Land	$	1,781,915
	Buildings (net of $3,421,865 in accumulated depreciation)		5,217,252
	Machinery and equipment (net of $5,132,728 in accumulated depreciation)		8,493,030
	Total capital assets (net)						15,492,197
	Total Assets						18,195,721
	Liabilities
	Current liabilities:
	Accounts payable		532,326
	Interest payable		131,842
	Current portion of long-term debt		405,000
	Total current liabilities						1,069,168
	Liabilities payable from restricted assets:
	Customer deposits						9,198
	Long-term liabilities:
	Revenue bond payable						11,745,000
	Total Liabilities						12,823,366
	Net Position
	Net investment in capital assets						3,343,167
	Unrestricted						2,029,188
						$	5,372,355

Following is the information of the Water Utility Fund for fiscal year 2020.

1. The amount in the Accrued Utility Revenue account was reversed.
2. Billings to customers for water usage during fiscal year 2020 totaled $2,906,402; $188,916 of the total was billed to the General Fund.
3. Cash in the amount of $253,362 was received. The cash was for interest earned on investments and $79,907 in accrued interest.
4. Expenses accrued for the period were management and administration, $351,207; maintenance and distribution, $671,510; and treatment plant, $677,489.
5. Cash receipts for customer deposits totaled $2,367.
6. Cash collections on customer accounts totaled $2,870,636, of which $204,351 was from the General Fund.
7. Cash payments for the period were as follows: Accounts Payable, $1,426,436; interest (which includes the interest payable), $386,127; bond principal, $405,000; machinery and equipment, $590,720; and return of customer deposits, $922.
8. A state grant amounting to $480,210 was received to help pay for new water treatment equipment.
9. Accounts written off as uncollectible totaled $10,123.
10. The utility fund transferred $808,790 in excess operating income to the General Fund.
11. Adjusting entries for the period were recorded as follows: depreciation on buildings was $242,693 and on machinery and equipment was $364,039; the allowance for uncollectible accounts was increased by $15,078; an accrual for unbilled customer receivables was made for $707,745; accrued interest income was $16,024; and accrued interest expense was $62,086.
12. The Revenue Bond Payable account was adjusted by $405,000 to record the current portion of the bond.
13. Closing entries and necessary adjustments were made to the net position accounts.

Required

1. a-1. For fiscal year 2020, prepare general journal entries for the Water Utility Fund. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

1. a-2. For fiscal year 2020, prepare closing entries for the Water Utility Fund. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)