Part Two: Please show the journal entries $($with debits and credits$)$ that would be made for each

of the following transactions in a City's General Fund $-$ for these questions, assume the fiscal

year runs from January $1,2022$ through December $31,2022$: $(15\%$ of points$)$

On January $1,2022,$ a city received delivery of a police car and an invoice for payment of

$$35,000$ due within $30$ days.

On January $15,2022,$ the city paid that invoice in full.

On December $31,2022,$ the city received delivery of another police car and an invoice for

payment of $$40,000$ due within $30$ days.

On February $1,2022,$ the city levied $$5,000,000$ in property taxes for FY $2022.$ Taxes are

due by April $30,2022.$ The city believes all taxes will be collected; no uncollectible

allowance is needed.

At December $31,2022,$ the city had collected $$4,200,000$ of the property taxes levied

above. $$800,000$ is still unpaid as of that date but is believed to be fully

collectible. However, based on past experience, the city estimates that $$200,000$ will becollected more than sixty days beyond the end of the fiscal year.

On December $31,2022,$ the city paid $$75,000$ in principal and $$25,000$ in interest on a long.term bond $($on the day it was due$).$