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Entries in this enterprise fund do not have to be recorded at the government-wide level since enterprise funds and business-type activities at the government-wide level both use the same (accrual) basis of accounting and same (economic resources) measurement focus. Thus, the same information recorded in the accounts of the enterprise fund can also, with only slight modification, be reported as business-type activities at the government-wide level.

Record the following events and transactions, which occurred during the year ended December 31, 2020.

5) Materials and supplies were ordered and received during the period in the amount of $610,500. The invoices agreed with the purchase orders and receiving reports and were recorded as vouchers payable. A perpetual inventory system is used for all materials and supplies.

6) Payrolls were paid totaling $645,750 for operations; $169,400 for maintenance; and $170,500 for construction.

7) Materials and supplies issued during the period amounted to $275,000 for operations; $130,000 for maintenance; and $166,000 for construction.

8) Bond interest due on July 1, 2020 was paid. As part of the journal entry, 1/40 ^th of the Unamortized Bond Discount on Revenue Bonds Payable should be amortized.

Previous Information that may be needed:

CITY OF BINGHAM Water Utility Fund Trial Balance As of December 31, 2019 Debits $526,692 67,840 181,524 Credits Cash Restricted Cash-Customer Deposits Customer Accounts Receivable Accumulated Provision for Uncollectible Accounts Inventory of Supplies Due from Other Funds Utility Plant in Service Accumulated Depreciation- Utility Plant Construction Work in Progress Vouchers Payable Customer Deposits Accrued Interest Payable $5,266 101,799 22,400 21,042,463 4,765,842 1,402,777 83,541 67,840 477,510

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