I. Record the Journal Entries for Property Taxes of Snowville January 15 th : Levied property taxes of $10, 000,000. Snowville estimates 2% of property taxes uncollectible. February 15th : Collects $7,500,000 in property taxes. March 15 Re-classifies outstanding property taxes from current to delinquent. May 10 th : Places a lien on Smiths property for $200,000 in outstanding property taxes. June 30th: Sells Smiths property at auction for $220,000.