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: Cash Customer accounts receivable Allowance for uncollectible accounts Materials and supplies Restricted assets (cash) Utility plant in service Accumulated depreciation-utility plant Construction work in progress Accounts payable Accrued expenses payable Revenue bonds payable Net position Totals Credits Debits $ 250,000 200,000 $ 30,000 120,000 250,000 7,000,000 2,600,000 180,000 120,000 75,000 3,600,000 1,575,000 $8,000,000 $8,000,000 During the year ended June 30, 2020, the following transactions and events occurred in the Town of Weston Water Utility Fund: 1. Accrued expenses at July 1 were paid in cash. 2. Billings to nongovernmental customers for water usage for the year amounted to $1,380,000; billings to the General Fund amounted to $96,000. 3. Liabilities for the following were recorded during the year: Materials and supplies Costs of sales and services Administrative expenses Construction work in progress $185,000 345,000 202,000 220,000 4. Materials and supplies were used in the amount of $275,000, all for costs of sales and services. 5. After collection efforts were unsuccessful, $9,000 of old accounts receivable were written off. 6. Accounts receivable collections totaled $1,459,000 from nongovernmental customers and $48,400 from the General Fund. 7. $1,035,000 of accounts payable were paid in cash. 8. One year's interest in the amount of $175,000 was paid. 9. Construction was completed on plant assets costing $250,000; that amount was transferred to Utility Plant in Service. 10. Depreciation was recorded in the amount of $260,000. 11. The Allowance for Uncollectible Accounts was increased by $9,900. 12. As required by the loan agreement, cash in the amount of $100,000 was transferred to Restricted Assets for eventual redemption of the bonds. 13. Accrued expenses, all related to costs of sales and services, amounted to $83,000. 14. Nominal accounts for the year were closed.