Mile-High City's year-end is June 30. Mile-High levies property taxes in January of each year for the calendar year. One-half of the levy is due in May, and one-half is due in October. Property tax revenue is budgeted for the period in which payment is due. The following information pertains to Mile-High's property taxes for the period from July 1, 2018, to June 30, 2019:

Calendar Year	2018	2019
Levy	$2,0000,000	$2,2000,000
Collected in:
May	950,000	1,000,000
July	50,000	30,000
October	920,000
December	80,000

The $70,000 balance due for the May 2019 installments was expected to be collected in August 2019.

What amount should Mile-High recognize for property tax revenue for the year ended June 30, 2019?

$2,100,000

$2,200,000

$2,360,000

$2,400,000