5. [Para. 8-b-5] All cash collected in paragraph 8-6-4 was transferred to the other funds and governments, adjusted for collection fees deducted or added. (Note: For simplicity, Chapter 4 of Smithville did not address this collection of fees by the custodial fund.) 6. [Para. 8-6-6] Make a year-end aggregate journal entry to reflect the additions and deductions made to net position for the reporting period. 7. Required: Using debits, record deductions for the amount of the administrative fee, and all funds transferred to other governments and funds in paragraphs 8-b-2 and 8-6-4. Additions should be credited for all property tax collections made for other governments. Recall that amounts related to the City of Smithville General Fund are not included in the journal entry because the city does not hold a net position in the fiduciary fund since it is administering the fund. [Para. 8-6-7] Make the year-end journal entry to reclassify all uncollected current taxes as delinquent. Add to the receivable amount interest and penalties of 6 percent on the reclassified amount (round amount to nearest whole dollar). The interest and penalties portion of the total amount should be debited to Taxes Receivable for Other Funds and Governments-Delinquent and credited to Due to Other Funds and Governments. You need only record the aggregate amounts reclassified in the general journal; the tax administrator will update the detailed tax ledger records for these reclassifications. 4. [Para. 8-b-4] Current taxes were collected during the year for the funds and governments shown below: Funds/Governments: City of Smithville General Fund Smithville CSD Smith County Smith County FPD Total collected Current Taxes Collected $ 1,488,206 8,412,730 2,069,800 1.747.540 $13.218.276 Required: Record the collections of current taxes and recognize specific liabilities to each fund or government, after deducting the I percent collection fee from other governments and adding the total collection fee to the amount due the City of Smithville General Fund. Make these entries only in the Tax Custodial Fund general journal