Benton County includes an independent school district and two individually chartered towns within the County. Benton County's Treasurer assesses and collects property taxes on behalf of itself, the school district, and the towns. The County uses a tax collection custodial fund to record tax collections for the school district and towns. During the year ended December 31, 2020, the following transactions took place: 1. The County levied taxes as follows: Benton County General Fund School District Towns $ 25,000,000 12,500,000 2,500,000 $ 40,000,000 Total 2. The property taxes levied in part (a) were collected. 3. The amounts collected were paid to the school district and towns. Required: a. Prepare journal entries for Benton County and the Benton County Independent School District-identify the funds. Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required A3 Required A1 Required A2 Required A3 Record the transactions in the books of the Benton County Tax Agency Fund. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record taxes receivable for other governments. Note: Enter debits before credits. Events General Journal Debit Credit CUS Deductions-Payment of Property Taxes to Other Governments Due to Town of Hart Due to Town of Thomas Estimated Uncollectible Current Taxes Expenditures Control Record en Journal Required A1 Required A2 Required A3 Record the transactions in the books of the Benton County General Fund. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record current property tax receivables. Note: Enter debits before credits. Events General Journal Debit Credit A Due to various Special Districts Estimated Uncollectible Current Taxes Expenditures Control Revenues Control-(Property Taxes) Record er Taxes Receivable-Current View general journal Required A1 Required A2 Required A3 Record the transactions in the books of the Benton County Independent School District General Fund. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the current property tax receivables. Note: Enter debits before credits. Events General Journal Debit Credit A Revenues Control(Property Taxes) LLLLLLLLLLL No Journal Entry Required Cash Due to Benton County General Fund Due to Benton County School District Record er Due to Other Funds and Units View general journal
