Exercise 4-17 (Static) Part 5 Garden City has calculated that General Fund property tax revenues of $4,608,000 are required for the current fiscal year. Over the past several years, the city has collected 96 percent of all property taxes levied. The city levied property taxes in the amount that will generate the required $4,608,000. Which of the following general journal entries would correctly record the property tax levy? Option a. b. C. d. General Journal Taxes Receivable-Current Allowance for Uncollectible Current Taxes Revenues Taxes Receivable-Current Allowance for Uncollectible Current Taxes Revenues Taxes Receivable-Current Deferred Inflows of Resources-Property Taxes Revenues Taxes Receivable-Current Deferred Inflows of Resources-Property Taxes Revenues Debit 4,608,000 4,800,000 4,608,000 4,800,000 Credit 184,320 4,423,680 192,000 4,608,000 184,320 4,423,680 192,000 4,608,000

Garden Oty has calculated that Geaeral Fund property tax ievenues of $4,608,000 are required for the curtent fiscal year. Over ithe past severd vears, the cily nas collected 96 percent of all property taxes fevied. The city levied property tases in the amount that will generate the requited $4.608.000. Which of the folowing generaf journal entnes would correctly iecord the property tax leyy