During the current year, the City of Plattsburgh recorded the following transactions related to its property taxes:

1. Levied property taxes of $6,730,000, of which 2 percent is estimated to be uncollectible.
2. Collected current property taxes amounting to $6,095,000.
3. Collected $64,000 in delinquent taxes and $4,800 in interest and penalties on the delinquent taxes. These amounts had been recorded as Deferred Inflows of Resources in the prior year.
4. Imposed penalties and interest in the amount of $7,200 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

1. Prepare journal entries to record the property tax transactions in the General Fund.
2. Prepare journal entries to record the property tax transactions in the governmental activities journal.
3. Determine the amount of property tax revenue recognized during the current year in the General Fund and at the government-wide level.

Options in drop down box:

• Allowance for Uncollectible Current Taxes
• Allowance for Uncollectible Delinquent Taxes
• Allowance for Uncollectible Interest and Penalties
• Appropriations
• Budgetary Fund Balance
• Cash
• Deferred Inflows of ResourcesUnavailable Revenues
• Due from State Government
• Due to Federal Government
• Due to State Government
• Encumbrances
• Encumbrances Outstanding
• Estimated Revenues
• Expenditures
• ExpensesGeneral Government
• ExpensesPublic Safety
• Fund BalanceNonspendableInterfund Loans Receivable
• Fund BalanceNonspendableInventory of Supplies
• Fund BalanceUnassigned
• General RevenuesInterest and Penalities on Delinquent Taxes
• General RevenuesMiscellaneous
• General RevenuesProperty taxes
• Interest and Penalties Receivable on Taxes
• Interfund Loans PayableCurrent
• Interfund Loans PayableNoncurrent
• Interfund Loans ReceivableCurrent
• Interfund Loans ReceivableNoncurrent
• Inventory of Supplies
• Other Financing Sources
• Other Financing Uses
• Program RevenuesGeneral Government
• Program RevenuesPublic Safety
• Revenues
• Tax Anticipation Notes Payable
• Taxes ReceivableCurrent
• Taxes ReceivableDelinquent
• Vouchers Payable

\begin{tabular}{|c|c|c|c|c|} \hline Transaction & \begin{tabular}{l} Fund / Governmental \\ Activties \end{tabular} & General Journal & Debit & Credit \\ \hline \multicolumn{5}{|c|}{ 1. Levied property taxes of $6,730,000, of which 2 percent is estimated to be uncollectible. } \\ \hline 1 & Governmental Activities & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \multicolumn{5}{|c|}{ 2. Collected current property taxes amounting to $6,095,000. } \\ \hline \multirow[t]{2}{*}{2} & Governmental Activities & & & \\ \hline & & & & \\ \hline \multicolumn{5}{|c|}{\begin{tabular}{l} 3. Collected $64,000 in delinquent taxes and $4,800 in interest and penalties on the delinquent taxes. These amounts had been recorded as Deferred \\ Inflows of Resources in the prior year. \end{tabular}} \\ \hline 3 & Governmental Activities & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \\ \hline 4. Imposed pen & \begin{tabular}{l} alties and interest in the an \\ Governmental Activities \end{tabular} & mount of $7,200 but only expects to collect $6,200 & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} Determine the amount of property tax revenue recognized during the current year in the General Fund and at the government-wide level