B C F G H J K 1 2 3 4 5 6 7 8 9 10 11 12 13 14 A E Coop County Tax Agency Fund Coop County uses a property tax collection fund, in which it collects property taxes on behalf of and to be disbursed to the county's generalfundCoop City, Cardnial Township, Scarlett Township and the Coop County school system. 20% of collections go to Cardinal Township and 20% goes to Scarlett Township, 34% goes to the Coop County school system and 26%. goes to Coop County's general fund. Because of the service provided the county's general fund charges a 4% collection fee to the townships and schools. Please prepare journal entries for the following in the Coop County Tax Collection Fund and Coop County General Fund: 1 Property taxes of $8,800,000 are levied, and $60,000 is estimated to be uncollectible. 2 $6,300,000 of the property taxes are collected, then distributed to the general fund, townships, and schools. 3 $26,000 of property taxes are deemed uncollectible and written off. Coop County Tax Collection Fund Debit Coop County General Fund Debit No Credit Credit 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 Transaction #2 Coop Coop County Cardinal Scarlett County Total GF (262) Twp(20%) Twp (20%)3chools (342) 44 Tax collected General fund collection fee (47) Due to each entity 45 46 47 48 49 50 This table has been provided to you to make the computations for #2, but you do not have to use it