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	$	26,800,000
School District		14,300,000
Towns		4,300,000
Total	$	45,400,000

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 Districtidentify the funds.

No Events Credit General Journal Taxes Receivable for Other Governments Debit 14,300,000 1 A AdditionsProperty Taxes Collected for Other Governments 14,300,000 B 14,300,000 N Cash Taxes Receivable for Other Governments 14,300,000 3 C1 14,300,000 DeductionsPayment of Property Taxes to Other Governments Amounts Payable to Other Governments 14,300,000 4 C2 14,300,000 Amounts Payable to Other Governments Cash 14,300,000 No Events Debit Credit 1 A General Journal Taxes Receivable-Current Revenues Control(Property Taxes) 10,000,000 10,000,000 2 B 10,000,000 Cash Taxes ReceivableCurrent 10,000,000