Governmental and Non Profit Accounting

Assignment: All revenues of the City of Capri are accounted for on the modified accrual basis. Below is shown a list of Capri's General Fund transactions of a cash inflow nature. Write journal entries to record each transaction. 1) Receipt of $900,000 from issue of tax anticipation notes. 2) Collection of current-year property taxes in the amount of $1,300,000. 3) Receipt of money in prepayment of a property owner's next-year taxes in the amount of $15,000. 4) Collection of accounts receivable for charges for services in the amount of $225,000. Prior to your entry, the amount is included in deferred inflows of resources