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Problem No.2 In January 20x3, assume Budgeted revenues for property taxes amounted to $950,000. In the past year, uncollectible property taxes averaged about 5%. (a) Prepare journal entries to record the tax levy in January 20x3. (b) Assume in the month of October, collection of property taxes for the current year amounted to $890,000. Prepare journal entries to record the collection in October 203