$(7)$ Bond interest $(6\frac{1}{2}\%)$ in the amount of $$162,500$ was paid.

$(8)$ In accord with the revenue bond indenture, $$25,000$ cash was transferred from operating cash to restricted assets.

$(9)$ Construction projects at the water treatment plant $($reflected in the beginning balance of construction in process$)$ were completed in the amount of $$214,000,$ and the assets were placed in service. Payments for these amounts were made in the previous year $($no effect on $2020$ Statement of Cash Flows$).$

$(10)$ Collection efforts were discontinued on bills totaling $$3,500.$ The unpaid receivables were written off.

$(11)$ An analysis of customer receivable balances indicated the Estimated Uncollectible Accounts needed to be increased by $$6,500.$

$(12)$ Payment of accounts payable amounted to $$332,000.$ Payments of payroll taxes totaled $$95,200.$

$(13)$ Supplies transferred from the Stores and Services Fund amounted to $$58,000.$ Cash in the amount of $$50,000$ was paid to the Stores and Services Fund for supplies.

$(14)$ Depreciation expense for the year was computed to be $$267,000.$

b$.$ Post the entries to the Water and Sewer Fund ledger $(t-$accounts$).$

c$.$ Prepare and post an entry closing all nominal accounts to Net position. Compute the balance in the net position accounts, assuming the only restricted assets are those identified with the bond indenture and the outstanding bonds are associated with the purchase of capital assets.

$6-$C$.$ Part $3.$ Proprietary Fund Financial Statements

Required:

Prepare, in good form, for the proprietary funds accounted for in Parts $1$ and $2,$ the following:

$(1)$ A Statement of Revenues, Expenses, and Changes in Fund Net position for the Year Ended December $31,2020.$

$(2)$ A Statement of Net position, as of December $31,2020.$

$(3)$ A Statement of Cash Flows for the Year Ended December $31,2020.$ Include restricted assets as a part of cash and cash equivalents for this statement. $($Assume any materials and labor attributable to construction in process were paid by year end$).$