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The Town of Weston has a Water Utility Fund with the following trial balance as of July 1, 2019, the first day of the fiscal

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The Town of Weston has a Water Utility Fund with the following trial balance as of July 1, 2019, the first day of the fiscal year: During the year ended June 30,2020 , the following transactions and events occurred in the Town of Weston Woter Utility Fund: 1. Accrued expenses at July 1 were pald in cash. 2. Billings to nongovernmental customers for water usage for the year amounted to $1,401,000; billings to the General Fund amounte to $116,000 3. Liabilities for the following were recorded during the year 4. Materials and supplies were used in the amount of $290,000, all for costs of sales and services: 5. After collection efforts were unsuccessful, $14,700 of old accounts recelvable were written off. 6. Accounts recelvable collections totaled $1,516,000 from nongovemmental customers and $50,500 from the General Fund. 7. $1,079,800 of accounts payable were pasd in cash. 8. One year's interest in the amount of $182700 was paid. 9. Construction was completed on plant assets costing $258.000; that amount was transferred to Utitity Plant in Service. 10. Deprectation was recorded in the amount of $268,100. 11. The Allowance for Uncollectible Accounts was increased by $10.000. 12. As required by the loan agreement, cash in the amount of $110.000 was transferred to Restricted Assets for eventual redemption of the bonds. 13. Accrued expenses, all related to costs of sales and services, amounted to $101,000 14. Nominal accounts for the year were closed Required: a. Record the transactions for the year in general journal form. b. Prepare a Statement of Revenues, Expenses, and Changes in Fund Net Postion. c. Prepare a Statement of Net Postition as of June 30, 2020 d. Prepore a Statement of Cash Flows for the year ended June 30. 2020 . Assume all debt and interest are related to copital outtoy. Assume the entre construction work in progress liabitity (see item 3) was paid in entry 7 include restricted assets as cash and cash equivalents. Complete this question by entering your answers in the tabs below. Drepare a ftatement of Cash Blows for the year ended June 20, 2020. Atwume al debt and interest are related te capital

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