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 Total $26,500,000 14,000,000 4,000,000 $44,500,000 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required Al 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.) No Events Debit Credit 1 General Journal Taxes Receivable for Other Governments Additions-Property Taxes Collected for Other Governments 14,000,000 2 B Cash Taxes Receivable for Other Governments | 44,500,000 3 1 Deductions Payment of Property Taxes to Other Governments Amounts Payable to Other Governments >> 4 C2 Amounts Payable to Other Governments Cash DAG Check my work mode : This shows what is correct or incorrect for the work you have comple 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 Total $26,500,000 14,000,000 4,000,000 $44,500,000 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, Answer is not complete. Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required A3 Record the transactions in the books of the Benton County General Fund, (ir no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No Events General Journal Debit Credit Taxes Receivable--Current Revenues Control--(Property Taxes) 1 A Ols N B Cash Taxes Receivable Current > Required A1 Required A2 Required A3 Record the transactions in the books of the Benton County Independent School District General Fund. transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Shey 2 > Record the current property tax receivables. Note: Enter debits before credits. General Journal Events A Debit Credit Journal entry worksheet
