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I have completed everything expect for a-2. I just need help with the numbers. everything is shown here. please help me Following is the June

I have completed everything expect for a-2. I just need help with the numbers. everything is shown here. please help me image text in transcribed
image text in transcribed
image text in transcribed
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Following is the June 30,2022 , statement of net position for the City of Bay Lake Water Utility Fund. a-2. For fiscal year 2023, 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.) Answer is complete and correct. \begin{tabular}{|c|c|c|c|c|c|} \hline No & Transaction & & & Debit: & Credat \\ \hline \multirow[t]{2}{*}{ A } & 01 & Sales of Water & & 499,6000 & \\ \hline & & Accrued Utity Revenue & 0 & & 499,6000 \\ \hline \multirow[t]{3}{*}{ B } & 02 & Accounts Recewable & & 2,818,8130 & \\ \hline & & Due From General Fund & 0 & 195,9000 & \\ \hline & & Ssles of Water & 0 & & 3,014,7730 \\ \hline \multirow[t]{4}{*}{ c } & 03 & Cash & 0 & 262.0090 & \\ \hline & & Interest income & 0 & & 179.8230 \\ \hline & & Interest Receivable & 0 & & 82.8580 \\ \hline & & & & & \\ \hline \multirow[t]{4}{*}{D} & O4 & Managoment and Admeistration Expense & 0 & 364,2990 & \\ \hline & & Mentenance and Distribution Expenseo & 0 & 66.5420 & \\ \hline & & Treatmeet Plart Expense & 0 & 702,7450 & \\ \hline & & Aosounts Payable & 0 & & 1,763,sec \\ \hline \multirow[t]{2}{*}{E} & os & Conh-Restricted & & 2,4570 & \\ \hline & & Cutsomer Deposits & 0 & & 2,4570 \\ \hline \multirow[t]{3}{*}{ F } & & Cash & 0 & 2.9727870 & \\ \hline & & Due From Geners Fund & 0 & & 212,1220 \\ \hline & & Actounts Recelvalie & 0 & & 2.207 .0650 \\ \hline \multirow[t]{5}{*}{0} & or & Nobiunts Payple. & 0 & 1.400 .0700 & \\ \hline & & nimesu Paydin & 0 & 131,760 & \\ \hline & & intersat Expanse & 0 & 200.0400 & \\ \hline & & Cumet Poses of Long-Tem Deet & 0 & 300,0000 & \\ \hline & & Mactinery and Egisment & 0 & 580.5120 & \\ \hline \end{tabular} Following is the information of the Water Utility Fund for fiscal year 2023. 1. The amount in the Accrued Utility Revenue account was reversed. 2. Billings to customers for water usage during fiscal year 2023 totaled $3,014,773;$195,960 of the total was billed to the General Fund. 3. Cash in the amount of $262,809 was received. The cash was for interest earnod on investments and $82,886 in accrued interest. 4. Expenses accrued for the period were management and administration, \$364,299; maintenance and distribution, $696,542; and treatment plant, \$702,745. 5. Cash receipts for customer deposits totaled $2,457. 6. Cash collections on customer accounts totaled $2,979,787, of which $212,122 was from the General Fund. 7. Cash payments for the period were as follows: Accounts Payable, $1,480,678; interest (which includes the interest payable), $400,809; bond principal, $398,000; machinery and equipment, $580,512; and return of customer deposits, $905 8. A state grant amounting to $471,357 was received to help pay for new water treatment equipment. 9. Accounts written off as uncollectible totaled $9,937. 10. The utility fund transferred $793,930 in excess operating income to the General Fund. 11. Adjusting entries for the period were recorded as follows: depreciation on buildings was $238.236 and on machinery and equipment was $357,354; the ollowance for uncollectible accounts was increased by $14,802; an accrual for unbilled customer receivables was made for $694,790; accrued interest income was $15,730; and accrued interest expense was $60,948. 12. The Revenue Bond Payable account was adjusted by $398,000 to record the current portion of the bond. 13. Closing entries and necessary adjustments were made to the net position accounts

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