Check TB MC Qu. 08-118 The City of Riverside levied property taxes in the amount... The City of Riverside levied property taxes in the amount of $20,000,000. The taxes were levied July 1, 2019 for the fiscal year ended June 30, 2020. During the year ended June 30, 2020, $17,800,000 in property taxes were collected from this levy. It is estimated that $940,000 will be collected during the next 60 days; $1,050,000 will be collected more than 60 days after June 30, 2020, and $210,000 will never be collected. When preparing the government-wide financial statements, how much property tax revenue should be recognized for the year ended June 30, 2020? Multiple Choice $18,550,000. $18,740,000. $19,790,000. $19,490,000.