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?

A.Taxes Receivable-Current 4,608,000

Allowance for Uncollectible Current Taxes184,320

Revenues4,423,680

B.Taxes Receivable-Current 4,800,000

Allowance for Uncollectible Current Taxes192,000

Revenues4,680,000

C.Taxes Receivable-Current 4,608,000

Deferred Inflow of Resources-Property Taxes184,320

Revenues4,423,680

D.Taxes Receivable-Current 4,800,000

Deferred Inflow of Resources-Property Taxes192,000

Revenues4,680,000

I know that the answer is B but I don't understand why?