[Para. 8-b-2] Delinquent taxes and related interest and penalties were collected during the year for the taxing authorities shown below:

Delinquent Interest and

Governments/Funds: Taxes Penalties Total

City of Smithville General Fund $ 360,000 $ 34,270 $ 394,270

Smithville CSD 722,650 57,810 780,460

Smith County 285,410 22,830 308,240

Smith County FPD 162,560 13,050 175,610

Total collected $1,530,620 $127,960 $1,658,580

Required: Record the collections of delinquent taxes and interest and penalties by recognizing specific liabilities to each fund or government. The 1 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.) Make these entries only in the Tax Agency Fund general journal. The Tax Agency Fund records the total amount of delinquent taxes and related interest and penalties in the Taxes Receivable for Other Funds and GovernmentsDelinquent account. (Note: All cash receipts and collection fees were recorded in earlier 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 RevenuesCharges for Services in the General Fund and in Program RevenuesGeneral GovernmentCharges for Services in governmental activities.)