Governments/Funds: City of Smithville General Fund Smithville CSD Smith County Smith County FPD Total collected Delinquent Interest and Taxes Penalties Total $ 387,201 $ 34,270 S 421,471 722,650 57,810 780,460 459,980 41,400 501,380 162.560 13.050 175.610 $1.732.391 S146,530 $1,878,921 Required: Record the collections of delinquent taxes and interest and penalties by recognizing specific liabilities to each fund or government. The I percent collection fee should be deducted from the amounts due to other governments; the total amount deducted from other governments should be added to the amount due to the City of Smithville General Fund. (Note: Round all amounts to the nearest whole dollar. Rounding will result in $1 too much, to rectify make the adjustment to the correct total amount to City of Smithville General Fund amount.) Make these entries only in the Tax Custodial Fund general journal. The Tax Custodial Fund records the total amount of delinquent taxes and related interest and penalties in the Taxes Receivable for Other Funds and Governments-Delinquent account. (Note: All cash receipts and collection fees were recorded in carlier chapters in the journals for the General Fund and governmental activities at the government-wide level. The collection fees, though not separately identified, were included in Revenues-Charges for Services in the General Fund and in Program Revenues-General Govemment- Charges for Services in governmental activities.) 3. [Para. 8-6-3) All cash collected in paragraph 8-6-2 was transferred to the other funds and goverments in the amounts calculated, adjusted for collection fees deducted or added (see Para. 8-6-2). 4. [Para. 8-6-4 Current taxes were collected during the year for the funds and governments shown below: Current Taxes Funds/Goverments: Collected City of Smithville General Fund $ 1,488,206 Smithville CSD 8,412,730 Smith County 2,069,800 Smith County FPD 1.747,540 Total collected $13.718.276 Required: Record the collections of current taxes and recognize specific liabilities to each fund or govemment, after deducting the I percent collection fee from other governments and adding the total collection fee to the amount due the City of Smithville General Fund. Make these entries only in the Tax Custodial Fund general journal