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Augusta has a municipal water and gas utility district (MUD). The trial balance on January 1,...

Augusta has a municipal water and gas utility district (MUD). The trial balance on January 1, 20X1, follows:
Debit Credit
Cash $ 92,700
Accounts Receivable 26,500
Inventory of Supplies 9,400
Land 120,100
Plant and Equipment 492,000
Accumulated Depreciation $ 80,700
Vouchers Payable 15,500
Bonds Payable, 6% 518,000
Net Position:
Invested in Capital Assets, Net of Related Debt 13,400
Unrestricted 113,100
Total $ 740,700 $ 740,700

Additional Information for 20X1:
Charges to customers for water and gas were $421,700; collections were $433,000.
A loan of $31,080 for two years was received from the general fund.
The water and gas lines were extended to a new development at a cost of $75,700. The contractor was paid.
Supplies were acquired from central stores (internal service fund) for $12,800. Operating expenses were $329,200, and interest expense was $31,080. Payment was made for the interest and the payable to central stores, and $325,500 of the vouchers were paid.
Adjusting entries were as follows: estimated uncollectible accounts receivable, $6,900; depreciation expense, $33,500; and supplies expense, $16,400.
Required:
a. Prepare entries for the MUD enterprise fund for 20X1 and closing entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) journal entries I-M. IRecord the entry to adjust the depreciation for the period.
JRecord the entry for supplies expense to adjust supplies on hand.
KRecord the entry to close the nominal accounts.
LRecord the entry to close the profit and loss summary.
MRecord the increase in the net assets invested.

record journel entries for items I-M

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