Part II. General Fund

Prepare entries to record the following transactions and events related to Colfax County's tax revenues for the year beginning January 1, 2019:

1. To raise property tax revenue of $800,000, the County bills its property owners a total of $802,000, providing $2,000 for uncollectible and refundable taxes.

b. During the year, taxpayers pay a total of $750,000 in property taxes

c. E. Bloodworth declares bankruptcy, owing the County $2,000 in property taxes. The County writes off the unpaid amount as uncollectible.

d. At year-end, the County declares all unpaid property taxes to be delinquent

e. To prepare financial statements for the year, the County comptroller estimates that Colfax will receive $20,000 in delinquent 2019 property taxes before the end of February, 2020. The other delinquent taxes will trickle in later in 2020.