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:

Debits Credits

Cash $$220,000$

Customer accounts receivable $200,000$

Allowance for uncollectible accounts $$27,000$

Materials and supplies $120,000$

Restricted assets $($cash$)280,000$

Utility plant in service $7,000,000$

Accumulated depreciation$$utility plant $2,600,000$

Construction work in progress $180,000$

Accounts payable $120,000$

Accrued expenses payable $78,000$

Revenue bonds payable $3,600,000$

Net position $1,575,000$

Totals $$8,000,000$ $$8,000,000$

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 $$1,372,000$; billings to the General Fund amounted to $$96,000.$

Liabilities for the following were recorded during the year:

Materials and supplies $$182,000$

Costs of sales and services $345,000$

Administrative expenses $202,000$

Construction work in progress $220,000$

Materials and supplies were used in the amount of $$275,000,$ all for costs of sales and services.

After collection efforts were unsuccessful, $$12,000$ of old accounts receivable were written off.

Accounts receivable collections totaled $$1,459,000$ from nongovernmental customers and $$48,400$ from the General Fund.

$$1,035,000$ of accounts payable were paid in cash.

One year$$s interest in the amount of $$175,000$ was paid.

Construction was completed on plant assets costing $$250,000$; that amount was transferred to Utility Plant in Service.

Depreciation was recorded in the amount of $$260,000.$

The Allowance for Uncollectible Accounts was increased by $$11,000.$

As required by the loan agreement, cash in the amount of $$100,000$ was transferred to Restricted Assets for eventual redemption of the bonds.

Accrued expenses, all related to costs of sales and services, amounted to $$76,000.$

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.