The Town of Weston has a Water Utility Fund with the following trial balance as of July $1,2023,$ the first day of the fiscal year: DebitsCreditsCash$ $338,000$ Customer accounts receivable$204,800$ Allowance for uncollectible accounts $ $30,800$Materials and supplies$123,200$ Restricted assets $($cash$)256,000$ Utility plant in service$7,009,000$ Accumulated depreciationutility plant $2,609,000$Construction work in progress$108,000$ Accounts payable $109,600$Accrued expenses payable $101,100$Revenue bonds payable $3,509,000$Net position $1,679,500$Totals$ $8,039,000$$ $8,039,000$During the year ended June $30,2024,$ the following transactions and events occurred in the Town of Weston Water Utility Fund:Accrued expenses at July $1$ were paid in cash.Billings to nongovernmental customers for water usage for the year amounted to $$1,387,000$; billings to the General Fund amounted to $$114,000.$Liabilities for the following were recorded during the year:Materials and supplies$ $194,000$Costs of sales and services$368,000$Administrative expenses$207,000$Construction work in progress$226,000$Materials and supplies were used in the amount of $$284,000,$ all for costs of sales and services.After collection efforts were unsuccessful, $$14,500$ of old accounts receivable were written off.Accounts receivable collections totaled $$1,514,000$ from nongovernmental customers and $$49,900$ from the General Fund.$$1,067,000$ of accounts payable were paid in cash.One years interest in the amount of $$180,500$ was paid.Construction was completed on plant assets costing $$256,000$; that amount was transferred to Utility Plant in Service.Depreciation was recorded in the amount of $$266,100.$The Allowance for Uncollectible Accounts was increased by $$10,000.$As required by the loan agreement, cash in the amount of $$108,000$ was transferred to Restricted Assets for eventual redemption of the bonds.Accrued expenses, all related to costs of sales and services, amounted to $$97,000.$Nominal accounts for the year were closed.Required:Record the transactions for the year in general journal form.Prepare a Statement of Revenues, Expenses, and Changes in Fund Net Position.Prepare a Statement of Net Position as of June $30,2024.$Prepare a Statement of Cash Flows for the year ended June $30,2024.$ Assume all debt and interest are related to capital outlay. Assume the entire construction work in progress liability $($see item $3)$ was paid in entry $7.$ Include restricted assets as cash and cash equivalents.