Groveport’s town council recently approved the town’s general fund operating budget for the current year. Use page 1 of the journal provided in the Working Papers. Your instructor will guide you through the following examples.

Journalize the selected transactions.

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Jan. 1. Recorded property tax levy: taxes receivable-current, $2,400,000.00; allowance for uncollectible taxes-current, $24,000.00; property tax revenue, $2,376,000.00. M34. 14. Received cash from traffic fines, $1,354.00. R84. (Other Revenue) Feb. 11. Received cash for current taxes receivable, $973,000.00. R113. Mar. 1. Recorded reclassification of current taxes receivable to delinquent status, $96,200.00, and the accompa- nying allowance for uncollectible accounts, $24,000.00. M68. 12. Received cash for delinquent taxes receivable, $30,300.00. R157.