Glbert City had the following ttansactions involving resource inflows into its general funditor the year ended June 30,208 : 1. The genetal fund levied $2.400,000 of property faxes in July 207. The city estimated that 2 percent of the levy would be uncollectible and that $120,000 of the levy would not be collected until after August 31, 20x8. advance of $1.650 also was recelved. 3. Duing the year ended June 30,208, the general fund received $2.200.000 of the property taxes levied in transaction (1). 4. The general fund recelved $255.000 in grant monies from the state to be used solely to acquire computer equipment. During March 208, the general fund acquired computer equipment using $240.000 of the grant. The city has not yet determined the use of the remainder of the grant. 5. During the year ended June 30.20x8, the general fund recelved $125,000 from the state as its portion of the sales tax. At June 30 . 208, the state owed the general fund an additional $25,000 of sales taxes. The general fund does not expect to have the $25,000 available unitil early August 208. 6. In July 207, the general fund borrowed $840,000 from a local bank using the property fax levy as collateral. The loan was repald in September 207 with the proceeds from property tax collections. 7. In February 208, terminated debt service fund transferred $33,000 to the general fund. The $33,000 represented excess resources left in the debt service fund after a general long-term debt obligation had been paid in full. 8. On July 1, 20X7, the general fund estimated that it would receive $74.000 from the sale of liquor licenses during the fiscal year ended June 30,208. For the year ended June 30,208,$63,000 had been received from liquor license sales. 9. The general fund recelved $18,000 in October 20X7 from one of the city's special revenue funds. The amount recelved represented a reimbursement for an expenditure of the special revenue fund that the city's general fund paid. 10. In July 207, the general fund collected $85,000 of delinguent property taxes that had been classified as delinquent on June 30 . 20X7. In the entry to record the property tax levy in July 206, the general fund estimated that it would collect all property thx revenues by July 31,207. Required: Prepare a schedule showing the amount of revenue that should be reported by Gilbert City's general fund on the statement of revenues, expenditures, and changes in fund balance for the year ended June 30,208. Glbert City had the following ttansactions involving resource inflows into its general funditor the year ended June 30,208 : 1. The genetal fund levied $2.400,000 of property faxes in July 207. The city estimated that 2 percent of the levy would be uncollectible and that $120,000 of the levy would not be collected until after August 31, 20x8. advance of $1.650 also was recelved. 3. Duing the year ended June 30,208, the general fund received $2.200.000 of the property taxes levied in transaction (1). 4. The general fund recelved $255.000 in grant monies from the state to be used solely to acquire computer equipment. During March 208, the general fund acquired computer equipment using $240.000 of the grant. The city has not yet determined the use of the remainder of the grant. 5. During the year ended June 30.20x8, the general fund recelved $125,000 from the state as its portion of the sales tax. At June 30 . 208, the state owed the general fund an additional $25,000 of sales taxes. The general fund does not expect to have the $25,000 available unitil early August 208. 6. In July 207, the general fund borrowed $840,000 from a local bank using the property fax levy as collateral. The loan was repald in September 207 with the proceeds from property tax collections. 7. In February 208, terminated debt service fund transferred $33,000 to the general fund. The $33,000 represented excess resources left in the debt service fund after a general long-term debt obligation had been paid in full. 8. On July 1, 20X7, the general fund estimated that it would receive $74.000 from the sale of liquor licenses during the fiscal year ended June 30,208. For the year ended June 30,208,$63,000 had been received from liquor license sales. 9. The general fund recelved $18,000 in October 20X7 from one of the city's special revenue funds. The amount recelved represented a reimbursement for an expenditure of the special revenue fund that the city's general fund paid. 10. In July 207, the general fund collected $85,000 of delinguent property taxes that had been classified as delinquent on June 30 . 20X7. In the entry to record the property tax levy in July 206, the general fund estimated that it would collect all property thx revenues by July 31,207. Required: Prepare a schedule showing the amount of revenue that should be reported by Gilbert City's general fund on the statement of revenues, expenditures, and changes in fund balance for the year ended June 30,208