1

Benton County maintains a tax agency fund for use by the County Treasurer to recond recelvables, collections, and disbursements of all property tax collections to all other units of government in the county. For FY 2016-2017, the following taxes were assessed: Benton County General Fund Town of Thomas Town of Hart Benton County School District Various Special Districts $18,358,e88 6,035,e00 4,825,888 18,365,ee 4,83e,ee8 $51,605,eee Total During the first six months of the fiscal year, the following transactions took place: 1. The tax levy became effective. All units of government provided for an estimated 2 percent In uncollectible taxes. 2 Cash collections of the first installment of taxes were as follows Benton County General Fund Town of Thomas Town of Hart Benton county School District Various Special Districts s 8,8.eee 3,620 , 2,415,886e 8, 8e5, ee6e 1.129.0ee $ 24, 269 Jeee Total 3. Record the liability to the other governmental units, assuming that the county General und charges other governments 15 percent of all tax collected because the county General Fund incurs all costs of biling. recording and collecting taxes 4 Cash was paid to the various governmental uni Check my wo 3 Record the liablity to the other governmental units, assuming that the county General Fund charges other governments 15 percent of all tax collected because the county General Fund incurs all costs of billing. recording, and collecting taxes 4. Cash was paid to the varlous governmental units. Required: e. Record the transactions on the books of the Benton County Tax Agency Fund. b. Record the transactions on the books of the Benton County General Fund c. Record the transactions on the books of the Town of Thomas