modified accrual accounting hmwk help

Assume that a citys general fund has the following beginning account balances at 1/01/206. The following events and transactions occurred during 20x6: 1. A city records a property tax levy of 51,000,000 for 206. It is estimated that 5% will not be collected 2. Collections during 206 were $750,000 on current taxes teceivable and $30,000 on delinquent taxes receivable. 3. Appropriate reclassification entries are made at year end for property taxes. 4. Delinquent taxes of $25,000 are witten otf 5. Adjust the allowance for delinquent taxes to 20% of the gross delinquent receivable. 6. Of the gross remaining delinquent taxes 30% are expected to be collected in the first two months of 2016 and the remaining 50% collected by the end of 20x7 Prepare journal entries for the above activity in the space below. - Hint, there should be 7