14. The 20x1 property tax levy for Green City totals $80,000,000. Based on past experience, it is estimated that 5% will not be collected and 1% will be collected in the first month of 20x2. For 20X1, Green City should recognize property tax revenues in the amount of: A. $80,000,000 B. $79,200,000 C. $76,000,000 D. $75,200,000 15. the beginning of 20x1, Green City's tax collection department purchases 10 new computers at a total cost of $23,000. Each computer has an estimated life of 3 years and salvage value of $200. For 20x1, Green City's General Fund should recognize: A. $7,000 depreciation expense B. $23,000 increase in fixed assets C. $ 23,000 expenditures-capital outlays D. No entry 16. For the 20x1 budgetary year, Green City expects the following inflows of resources for its General Fund: Property taxes, licenses, fines, & permits $5,000,000 Proceeds of debt issue $4,000,000 Interfund transfers in $1,000,000 17. In recording its budget, what amount should the General Fund record for estimated revenues? A. S 5,000,000 B. $ 9,000,000 2020 Midterm Exam Lincoln University 6 C. S 6,000,000 D. S 10,000,000