P. 4-13 In October 2021, the Village of Mason levied $80 million of property taxes for its 2022 fiscal year (which is the same as the calendar year). The taxes are payable 50 percent by December 31, 2021, and 50 percent by June 30, 2022. The village collected $55 million of the 2022 taxes by yearend 2021 and the $25 million balance by the end of 2022. The government has a legally enforceable claim on the taxed property on the first due datethat is, December 31, 2021. In December 2021, the state announced that the village would receive $3 million in state assistance. The funds were paid in January 2022 and could have been used (per terms of the state legislation) to cover any legitimate village expenditures incurred in 2022. Prepare fund journal entries to summarize the property tax and grant activity for the fiscal years ending December 31, 2021, and 2022. How would you justify any apparent inconsistencies as to if and when you recognized the taxes receivable as opposed to the grants receivable?