Needing help with closing entries to determine net position.

Required: Record the following transactions in the general journal of the City of Monroe Water and Sewer Utility Fund (1) During the year, sales of water to non-government customers amounted to $1025,000 and sales of water to the General Fund amounted to $37000 (2) Collections from non-government customers amounted to $983,000 B) The Stores and Services Fund repaid $15.000 of the long term advance to the Water and Sewer Fund, (4) Materials and supplies in the amount of $261000 were received. Aliability in that amount was recorded (5) Materials and supplies were issued and were charged to the following accounts: cost of sales and services, $180,000: selling $15.000, administration, $18,000 construction work in progress. $50,000, (6) Payroll costs for the year totaled $416.200 plus $34.200 for the employer's share of payroll taxes. Of that amount 5351900 was paid in cash, and the remainder was withheld for taxes. The $450,400 (416.200 - 34,200) was distributed as follows: cost of sales and services. $265.800, sales. $43900, administration, $91400: construction work in progress. $49,300. f7 Bond Interest (6) in the amount of $162,500 was paid, (8) In accord with the revenue bond indenture. $25.000 cash was transferred from operating cash to restricted assets. 19) Construction projects at the water treatment plant reflected in the beginning balance of construction in process) were completed In the amount of $214,000, and the assets were placed in service. Payments for these amounts were made in the previous year (no etfect on 2020 Statement of Cash Flows). 110) Collection efforts were discontinued on bilis totaling $3,500. The unpaid receivables were written off (11) An analysis of customer receivable balances indicated the Estimated Uncollectible Accounts needed to be increased by $6.500. (12) Payment of accounts payable amounted to $332.000. Payments of payroll taxes totaled $95.200 13Supplies transferred from the Stores and Services Fund amounted to $58,000. Cash in the amount of $50,000 was paid to the Stores and Services Fund for supplies (14) Depreciation expense for the year was computed to be $267.000. Post the entries to the Water and Sewer Fund ledger accounts) c. Prepare and post an entry closing all nominal accounts to Net Position. Compute the balance in the Net Position accounts, assuming the only restricted assets are those identified with the bond indenture and the outstanding bonds are associated with the purchase of capital assets Journal entry worksheet Record the closing entries to determine the net position. Note: Enter debits before credits. Transaction General Journal Debit Credit 16 Record entry Clear entry View general journal