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The Town $of$ Weston has a Water Utility Fund with the following trial balance $asof$ July $1,2023,$ the first day $of$ the fiscal year:

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 $to$ $$1,454,000$; billings $to$ the General Fund

amounted $to$ $$122,000.$

Liabilities for the following were recorded during the year:

Materials and supplies were used $in$ the amount $of$ $$308,000,$ all for costs $of$ sales and services.

After collection efforts were unsuccessful, $$15,300of$ old accounts receivable were written off.

Accounts receivable collections totaled $$1,552,000$ from nongovernmental customers and $$52,300$ from the General Fund.

$$1,118,200of$ accounts payable were paid $in$ cash.

One year's interest $in$ the amount $of$ $$189,300$ was paid.

Construction was completed $on$ plant assets costing $$264,000$; that amount was transferred $to$ Utility Plant $in$ Service.

Depreciation was recorded $in$ the amount $of$ $$274,100.$

The Allowance for Uncollectible Accounts was increased $by$ $$14,000.$

$As$ required $by$ the loan agreement, cash $in$ the amount $of$ $$116,000$ was transferred $to$ Restricted Assets for eventual redemption $of$

the bonds.

Accrued expenses, all related $to$ costs $of$ sales and services, amounted $to$ $$113,000.$

Nominal accounts for the year were closed. Required:

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

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

$c.$ Prepare a Statement $of$ Net Position $asof$ June $30,2024.$

$d.$ 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.

Complete this question $by$ entering your answers $in$ the $tabs$ below.

Required $D$

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

Note: $Ifno$ entry $is$ required for a transactio$\frac{n}{e}$vent, select $"No$ Journal Entry Required" $in$ the first account field.

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