General Operating Fund

Cash on Deposit

Taxes on Roll Receivable

Due to Utility Operating Fund

Accounts Receivable

Business License Revenue

Trailer Park License Revenue

Miscellaneous Revenue

Utility Operating Fund

Due from General Operating Fund

Accounts Receivable

Penalties Revenue

Hydrant Rental Revenue

The various property tax transactions were totalled for the year as follows:

	Taxes	Grants in-lieu
		of Taxes
a) Taxes Levied	1,600,000	47,500
b) Discount (charged to expense)	201
c) Adjustment to reduce taxes revenue & receivable	625
d) Penalties	12,050
e) Tax Account moved to Tax Sale Property Account	3,074
f) Taxes Added later in the Year (Added taxes revenue account)	10,542

Prepare the necessary journal entries to make in the general ledger (either the accounting system would generate or would be done manually) with the above transactions. Identify the fund in use from above.