FRISCO CITY Chapter 5 General transaction. Transfer your journal entries to the appropriate T-accts. Fund financial transaction for Frisco City. Prepare the journal entries, as appropriate, to record the following Of the $800,000 in property taxes receivable at January 1, $780,000 was collected in cash. The remaining $20,000 was written off as uncollectible. as revenue. Accrued salaries from the previous year were paid in the amount of $700,000. Property taxes in the amount of $9,030,000 were levied in order to provide revenues of $9,000,000. Tax bills were sent to the property owners. An allowance for uncollectible taxes was established 1. Deferred property taxes at the beginning of the year were recognized 2. 3. 100 0oo were collected in cash. FRISCO CITY Chapter 5 General transaction. Transfer your journal entries to the appropriate T-accts. Fund financial transaction for Frisco City. Prepare the journal entries, as appropriate, to record the following Of the $800,000 in property taxes receivable at January 1, $780,000 was collected in cash. The remaining $20,000 was written off as uncollectible. as revenue. Accrued salaries from the previous year were paid in the amount of $700,000. Property taxes in the amount of $9,030,000 were levied in order to provide revenues of $9,000,000. Tax bills were sent to the property owners. An allowance for uncollectible taxes was established 1. Deferred property taxes at the beginning of the year were recognized 2. 3. 100 0oo were collected in cash