The Town of Weston has a Water Utility Fund with the following trial balance as of July 1, 2016, the first day of the fiscal year:

Debits Credits

Cash 333,000

Customer accounts receivable 201,800

Allowance for uncollectible accounts 30,300

Materials and supplies 121,200

Restricted assets (cash) 253,000

Utility plant in service 7,004,000

Accumulated depreciation - utility plant 2,603,000

Construction work in progress 103,000

Accounts payable 123,600

Accured expenses payable 77,300

Revenue bonds payable 3,503,000

Net position 1,678,800

Totals 8,016,000 8,016,000

During the year ended June 30, 2017, 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 theeyar amounted to $1,383,000; billings to the General Funjd

amounted to $110,000

3.Liabilities for the following were recorded during the year:

Material and supplies $189,000

Costs of sales and services 363,000

Administrative expenses 204,000

Construction work in progress 222,000

4.Materials and supplies were used in the amount of $278,000, all forcosts of sales and services.

5.$14,200 of old accounts receivable were written off.

6.Accounts receivable collectionstotaled $1,482,800 from nongovernmental customers and $49,000 from the General Fund.

7.$1,047,800 of accounts payable were paid in cash.

8.One year's interest in the amount of $177,200 was paid.

9.Construction was completed on plant assets costing $253,000; that amount was transferred to Utility Plant in Service.

10.Depreciation was recorded in the amount of $163,100

11.Interest in the amount of $25,300 was reclassified to Construction Work in Process.(This was previously paid in item 8.)

12.The Allowance for Uncollectible Acocunts was incerase by $10,000

13.As required by the loan agreement, cash in the amount of $103,000 was transferred to Restricted Assets for eventual redemption of

the bonds

14.Accrued expenses, all related to costs of sales and services, amounted to $92,000

15.Nominal accounts for the year were closed.

Required:

a.Record the transactions for the year in general journal form.

b. Statement of Revenues, Expenses, and Changes in Fund Net Position.

c.Statement of Net Position as of June 30, 2017

d. Statement of Cash Flows for the year ended June 30, 2017.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.