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please help with the question The city of Pine's fiscal year end is June 30. Pine levies property taxes in January of each year for

please help with the question

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The city of Pine's fiscal year end is June 30. Pine levies property taxes in January of each year for the calendar year. One-half of the levy is due in May, and one-half is due in October. Property tax revenue is budgeted for the period in which payment is due. The following information pertains to Pine's property taxes for the period from July 1, Year 5, to June 30, Year 6: Calendar Year Year 5 Year 6 Levy $2,000,000 $2,400,000 Collected in: May 950,000 1, 100,000 July 50,000 60,000 October 920,000 December 80,000 The $40,000 balance due for the May Year 6 installments was expected to be collected in August Year 6. What amount should Pine recognize for property tax revenue for the fiscal year ended June 30, Year 6? $2,200,000 O $2,360,000 $2,160,000 $2,400,000

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