The Town of Wilson has a Water Utility Fund with the following trial balance as of July 1, 2011, the first day of the fiscal year:

During the year ended June 30, 2012, the following transactions and events occurred in the Town of Wilson Water Utility Fund:
1. Accrued expenses at July 1, 2011, were paid in cash.
2. Billings to nongovernmental customers for water usage for the year amounted to $1,400,000; billings to the General Fund amounted to $57,000.
3. Liabilities for the following were recorded during the year:
Materials and supplies .... $215,000
Costs of sales and services .... 354,000
Administrative expenses .... 200,000
Construction work in progress . 212,200
4. Materials and supplies were used in the amount of $265,700, all for costs of sales and services.
5. $8,000 of old accounts receivable were written off.
6. Accounts receivable collections totaled $1,450,000 from nongovernmental customers and $48,400 from the General Fund.
7. $1,035,000 of accounts payable were paid in cash.
8. One year's interest in the amount of $175,000 was paid.
9. Construction was completed on plant assets costing $135,000; that amount was transferred to Utility Plant in Service.
10. Depreciation was recorded in the amount of $235,000.
11. Interest in the amount of $25,000 was charged to Construction Work in Progress.
12. The Allowance for Uncollectible Accounts was increased by $13,100.
13. As required by the loan agreement, cash in the amount of $100,000 was transferred to Restricted Assets for eventual redemption of the bonds.
14. Accrued expenses, all related to costs of sales and services, amounted to $47,000.
15. Nominal accounts for the year were closed to Net Assets.
Required:
a. Record the transactions for the year in general journal form.
b. Prepare a Statement of Revenues, Expenses, and Changes in Fund Net Assets.
c. Prepare a Statement of Net Assets as of June 30, 2012.
d. Prepare a Statement of Cash Flows for the Year Ended June 30, 2012. Assume all debt and interest are related to capital outlay. Assume the entire $212,200 construction work in progress liability (see item 3) was paid in entry 7. Include restricted assets as cash and cashequivalents.

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130,000 Customer accounts receivable Allowance Materials and supplies Restricted assets Utility plant in service Accumulated depreciation-utility plant Construction work in progress Accounts payable Accrued expenses Revenue bonds payable Net assets for uncollectible accounts 5 10,000 7,100,000 130,000 80,000 1,680,000