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 $. 330,000 200,000 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 $ 30,000 120,000 250,000 7,000,000 2,600,0e0 100,000 120,000 75,000 3, 500,000 1,675,000 $8,000,00e $8,e00,000 Totals 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 the year amounted to $1,380,000; billings to the General Fund amounted to $107,000 3. Liabilities for the following were recorded during the year: Materials and supplies Costs of sales and services Administrative expenses Construction work in progress $185,000 360,000 200,00e 220,000