P. 9-1 Enterprise funds are accounted for like comparable businesses; nevertheless, they have their quirks. The Green Hills Water District was established on January 1 to provide water service to a suburban development. It accounts for its operations in a single enterprise fund. During the year it engaged in the following transactions: 1. It issued $6,000,000 of revenue bonds. 2. For $4,500,000, it purchased the plant and equipment of the private water company that previously served the area. 3. It incurred $500,000 in costs to improve and expand its plant and equipment. 4. It billed customers for $1.8 million, of which it collected $1.5 million. 5. It billed and collected $200,000 in tap connection fees from developers. The actual cost of the hookups (paid in cash) was $140,000. 6. It incurred the following operating costs (all paid in cash): - Purchases of water, $850,000 - Labor and contract services, \$320,000 - Interest, $80,00 - Supplies and miscellaneous, $60,000 9. ships (PPP)? Or available payment arrangement (APA)? Which specific ones? 7. It recognized depreciation of $350,000 on it capi. tal assets. a. Prepare journal entries to record the transactione, h. Prepare a year-end statement of revenues,