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Augusta has a municipal water and gas utility district (MUD). The trial balance on January 1, 20 1 , follows: Additional Information for 20X1: 1. Charges to customers for water and gas were $421,000, collections were $433,300 2. A loan of $30,360 for two years was received from the general fund. 3. The water and gas lines were extended to a new development at a cost of $76,900. The contractor was paid 4. Supplies were acquired from central stores (internal service fund) for $12,500. Operating expenses were $329,000, and interest expense was $30,360 Payment was made for the interest and the payable to central stores, and $327,000 of the vouchers were paid. 5. Adjusting entries were as follows. estimated uncollectible accounts receivable, \$7,500; depreciation expense; $33,300, and supplies expense, $16,400. Required: a. Prepare entries for the MUD enterprise fund for 201 and closing entries b. Prepare a statement of net position for the fund for December 31, 20X1. c. Prepare a starement of revenues, expenses, and changes in fund net position for 201. Assume that the $506,000 of the 6 percent bonds is related to the net capital assets of land and of plant and equipment. d. Prepare a statement of cash flows for 201 Complete this question by entering your answers in the tabs below. Prepare entries for the MUD enterprise fund for 20X1 and closing entries. Note: If no entry is required for a transaction/event, select "No journal entry Record the charges to customers. Record the collections on account. Record the receipt of loan from the General Fund. Record the extension of the water and gas lines. Record the payment for the extended lines. Record the expenses. Record the payment of the approved vouchers, interest, and payment to the Central Stores Fund. Note : = journal entry has been entered and payment to the Central Stores Fund. Record the entry to reduce the revenue for the uncollectible accounts. Record the entry to adjust the depreciation for the period. Record the entry to adjust the supplies on hand. Record the entry to close the nominal accounts. Record the entry to close the profit and loss summary. Record the increase in the net assets invested. Note : = journal entry has been entered Prepare a statement of net position for the fund for December 31,201. Note: Select the assets account based on the order listed in the question table. Amounts to be dec by minus sign. Prepare a statement of revenues, expenses, and changes in fund net position for 201. As percent bonds is related to the net capital assets of land and of plant and equipment. AUGUSIA MUD Enterprise Fund Statement of Cash Flows For the Year Ended December 31, 20X1 Cash Flows from Operating Activities. Cash Flows from Noncapital Financing Activities Cash Flows from Capital and Related Financing Activities: Cash Flows from Investing Activities: Reconciliation of Operating Income to Net Cash Provided by Operating Activities: Adjustments to Reconcile Operating Income to Net Cash Provided by Operating Activities: Change in Assets and Liabilities: Total Adjustments Augusta has a municipal water and gas utility district (MUD). The trial balance on January 1, 20 1 , follows: Additional Information for 20X1: 1. Charges to customers for water and gas were $421,000, collections were $433,300 2. A loan of $30,360 for two years was received from the general fund. 3. The water and gas lines were extended to a new development at a cost of $76,900. The contractor was paid 4. Supplies were acquired from central stores (internal service fund) for $12,500. Operating expenses were $329,000, and interest expense was $30,360 Payment was made for the interest and the payable to central stores, and $327,000 of the vouchers were paid. 5. Adjusting entries were as follows. estimated uncollectible accounts receivable, \$7,500; depreciation expense; $33,300, and supplies expense, $16,400. Required: a. Prepare entries for the MUD enterprise fund for 201 and closing entries b. Prepare a statement of net position for the fund for December 31, 20X1. c. Prepare a starement of revenues, expenses, and changes in fund net position for 201. Assume that the $506,000 of the 6 percent bonds is related to the net capital assets of land and of plant and equipment. d. Prepare a statement of cash flows for 201 Complete this question by entering your answers in the tabs below. Prepare entries for the MUD enterprise fund for 20X1 and closing entries. Note: If no entry is required for a transaction/event, select "No journal entry Record the charges to customers. Record the collections on account. Record the receipt of loan from the General Fund. Record the extension of the water and gas lines. Record the payment for the extended lines. Record the expenses. Record the payment of the approved vouchers, interest, and payment to the Central Stores Fund. Note : = journal entry has been entered and payment to the Central Stores Fund. Record the entry to reduce the revenue for the uncollectible accounts. Record the entry to adjust the depreciation for the period. Record the entry to adjust the supplies on hand. Record the entry to close the nominal accounts. Record the entry to close the profit and loss summary. Record the increase in the net assets invested. Note : = journal entry has been entered Prepare a statement of net position for the fund for December 31,201. Note: Select the assets account based on the order listed in the question table. Amounts to be dec by minus sign. Prepare a statement of revenues, expenses, and changes in fund net position for 201. As percent bonds is related to the net capital assets of land and of plant and equipment. AUGUSIA MUD Enterprise Fund Statement of Cash Flows For the Year Ended December 31, 20X1 Cash Flows from Operating Activities. Cash Flows from Noncapital Financing Activities Cash Flows from Capital and Related Financing Activities: Cash Flows from Investing Activities: Reconciliation of Operating Income to Net Cash Provided by Operating Activities: Adjustments to Reconcile Operating Income to Net Cash Provided by Operating Activities: Change in Assets and Liabilities: Total Adjustments