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During the current year, the City of Patubburgh recorded the following transactions related to is propenty axes 1 levied property tams of $6530,000, of which

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During the current year, the City of Patubburgh recorded the following transactions related to is propenty axes 1 levied property tams of $6530,000, of which 2 percert \&s estimised to be uncolecthie. 2. Colected curient propenty tapes amounting to 55,968000 3 Ceiected $52.300 in delinquent taxes and 54.800 in imereit and penabies on the desnowet soss these amoints had been recorded as Deferied inflows of fesources in the prior year. 5 Reclossied uncollected taxes and interest and perwaries at deinquent. These amounts are not expected bo be collected werin the. first 60 days of the foloring tiscal yeat Required a. Piepare jotumat entries to tecord the property tox tiansectoons n the Gienierat find level Coinplete this questien by netering yeur answers in the tahs below. 2. Collected current property taxes amounting to $5,968,000 4 Imposed penalties and interest in the amount of $7,400 but only expects to collect $6,200 of that amount \begin{tabular}{|l|l|l|l|l|} \hline 4 & General Fund & Interest and Penalties Receivable on Taxes & 7.400 \\ \hline & & Allowance for Uncollectible Interest and Penalties & & 1.200 \\ \hline & & Revenues & & 6.200 \\ \hline \end{tabular} 5. Reclassified uncollected taxes and interest and penalties as delinquent. These amounts are not expected to be collected within the first 60 days of the following fiscal year Durng the cuerent yeac, the City of Frabsburgh recaided the following tansactions relsteit to fs property kieet. 1 Levied progerty tanes of $6.530000, of which 2 percent is eumated to be uncelectble 2. Celected cuirene propeity taned amountrig to 45 pers 000 recorded is Defered inhons of Pesources in the peior yeat 4. Imposed penoties and anterest in the amount of 57,400 but only expects to colect $5200 of that anoint 5. Rectssufied uncalected taxes and ederet and penalties as exinqueht These arnounts are not expected to be colected ave in the first Go tabs of the fallowing fiscal yeat. Aequired lievel Ceecplete ths guestion by entering your antwers it the tabs bedow. 3 Cobected 552,300 in delinquent taxes and 54,800 in interest and penaties on the deancequent taxes. These amounts had beon recorded as Deferred. Intlows of Resources in the prior year Required C > During the current year, the City of Plattsburgh recorded the following transactions related to its property taxes. 1. Levied property taxes of $6,530,000, of which 2 percent is estimated to be uncollectible. 2. Collected curtent property taxes amounting to $5,968,000 3. Collected $52,300 in delinquent taxes and $4.800 in interest and penalies on the delinquent taxes. Thefe amounts had been recorded asDefredInfiowsofResourcesintheprioryeat 4 imposed penalties and interest in the amount of $7.400 but only expects to collect $6.200 of that amount 5. Reclassified uncollected taxes and interest and penalties as delinquent. These amounts are not expected to be collected within the first 60 days of the following fiscal year. Required a. Prepare joumal entries to record the property tax transactions in the General Fund b Prepare journal enties to record the property tax transactions in the governmental activities jpurnal. c. Determine the amount of property tax revenue recognized during the current year in the General Fund and at the government. wide Invel Complete this question by entering your answers in the tabs below. Dotermine the amount of property tax revenue recognized during the current year in the General Fund and at the governmant-wide level. During the current year, the City of Patubburgh recorded the following transactions related to is propenty axes 1 levied property tams of $6530,000, of which 2 percert \&s estimised to be uncolecthie. 2. Colected curient propenty tapes amounting to 55,968000 3 Ceiected $52.300 in delinquent taxes and 54.800 in imereit and penabies on the desnowet soss these amoints had been recorded as Deferied inflows of fesources in the prior year. 5 Reclossied uncollected taxes and interest and perwaries at deinquent. These amounts are not expected bo be collected werin the. first 60 days of the foloring tiscal yeat Required a. Piepare jotumat entries to tecord the property tox tiansectoons n the Gienierat find level Coinplete this questien by netering yeur answers in the tahs below. 2. Collected current property taxes amounting to $5,968,000 4 Imposed penalties and interest in the amount of $7,400 but only expects to collect $6,200 of that amount \begin{tabular}{|l|l|l|l|l|} \hline 4 & General Fund & Interest and Penalties Receivable on Taxes & 7.400 \\ \hline & & Allowance for Uncollectible Interest and Penalties & & 1.200 \\ \hline & & Revenues & & 6.200 \\ \hline \end{tabular} 5. Reclassified uncollected taxes and interest and penalties as delinquent. These amounts are not expected to be collected within the first 60 days of the following fiscal year Durng the cuerent yeac, the City of Frabsburgh recaided the following tansactions relsteit to fs property kieet. 1 Levied progerty tanes of $6.530000, of which 2 percent is eumated to be uncelectble 2. Celected cuirene propeity taned amountrig to 45 pers 000 recorded is Defered inhons of Pesources in the peior yeat 4. Imposed penoties and anterest in the amount of 57,400 but only expects to colect $5200 of that anoint 5. Rectssufied uncalected taxes and ederet and penalties as exinqueht These arnounts are not expected to be colected ave in the first Go tabs of the fallowing fiscal yeat. Aequired lievel Ceecplete ths guestion by entering your antwers it the tabs bedow. 3 Cobected 552,300 in delinquent taxes and 54,800 in interest and penaties on the deancequent taxes. These amounts had beon recorded as Deferred. Intlows of Resources in the prior year Required C > During the current year, the City of Plattsburgh recorded the following transactions related to its property taxes. 1. Levied property taxes of $6,530,000, of which 2 percent is estimated to be uncollectible. 2. Collected curtent property taxes amounting to $5,968,000 3. Collected $52,300 in delinquent taxes and $4.800 in interest and penalies on the delinquent taxes. Thefe amounts had been recorded asDefredInfiowsofResourcesintheprioryeat 4 imposed penalties and interest in the amount of $7.400 but only expects to collect $6.200 of that amount 5. Reclassified uncollected taxes and interest and penalties as delinquent. These amounts are not expected to be collected within the first 60 days of the following fiscal year. Required a. Prepare joumal entries to record the property tax transactions in the General Fund b Prepare journal enties to record the property tax transactions in the governmental activities jpurnal. c. Determine the amount of property tax revenue recognized during the current year in the General Fund and at the government. wide Invel Complete this question by entering your answers in the tabs below. Dotermine the amount of property tax revenue recognized during the current year in the General Fund and at the governmant-wide level

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