Property taxes are not necessarily recognized as revenue in the year collected.

The fiscal year of Duchess County ends on December 31. Property taxes are due on March 31 of the year in which they are levied.

1. Prepare journal entries (excluding budgetary and closing entries) to record the following property taxrelated transactions in which the county engaged in 2020 and 2021.
2. On January 15, 2020, the county council levied property taxes of $170 million for the year ending December 31, 2020. Officials estimated that 1 percent would be uncollectible.
3. During 2020, it collected $120 million.
4. In January and February 2021, prior to preparing its 2020 financial statements, it collected an additional $45 million in 2020 taxes. It reclassified as delinquent the $5 million of 2020 taxes not yet collected.

I am confused for journal entry on transaction #4