Rainbow City, whose fiscal year ends December 31, 2021, had the following transactions and events during year 2021. 1. On December 31, 2020 trial balance, Rainbow had Property taxes receivable-. delinquent of $640,000 and Deferred revenues--property taxes of $240,000. On January 1, 2021, Rainbow levied property taxes of $5,000,000, of which it estimated that $40,000 would be uncollectible. During the year, Rainbow collected cash of S640,000 from delinquent property taxes receivable from 2020 tax levy and $4,200,000 from 2021 tax levy. It expected it would collect $500,000 in the first 60 days of year 2022 and remaining $260,000 in April of 2024 2. Rainbow City received an expenditure-driven grant from the federal government to provide public concerts to traditionally underserved communities. The grant contained no time limits, but the City must sponsor "qualifying concerts as an eligibility requirement to be reimbursed for concert costs. The City will be reimbursed for each dollarit spends on qualifying concerts up to a maximum of $60,000. During 2021, the City incurred $65,000 of cash expenditures in the qualifying concerts 3. Rainbow City uses the purchase method to account for the acquisition of supplies. At the end of year 2020, the supplies inventory was valued at $50,000, During year 2021, Rainbow purchased $200,000 of supplies. At the end of year 2021, the supplies inventory was valued at $65,000 4. Rainbow City General Fund also had the following transactions a. It purchased a fire engine at a cost of $80,000 b. It sold a police vehicle, originally cost $30,000 for 55.000 c. It received a bill for $25,000 from Motor Pool Internal Service Fund for motor vehicle services d. City's Mass Transit Authority gave $50,000 cash to Rainbow City General Fund since it had positive operating results this year, Answer the following questions: (Hint: consider making journal entries to the transactions above to earn potential partial credit) (Do not add dollar sign do not add comma by yourself to your amoufround the answer to the whole number) d. City's Mass Transit Authority gave $50,000 cash to Rainbow City General Fund since it had positive operating results this year. Answer the following questions: (Hint: consider making journal entries to the transactions above to earn potential partial credit) (Do not add dollar sign; do not add comma by yourself to your amount: round the answer to the whole number) 1. The amount of Property taxes revenues reported on the 2021 General Fund operating statement would be 2. The amount of Deferred revenues---property taxes reported on December 31, 2021 General Fund balance sheet would be 3. The amount of Intergovernmental revenues---grants reported on 2021 General Fund operating statement would be 4. The amount of Expenditures---supplies reported on 2021 General Fund operating statement would be 5. The amount of Nonspendable fund balance reported on year-end General Fund balance sheet would be 6. The amount that should be included as Other financing sources on 2021 General Fund operating statement would be Rainbow City, whose fiscal year ends December 31, 2021, had the following transactions and events during year 2021. 1. On December 31, 2020 trial balance, Rainbow had Property taxes receivable-. delinquent of $640,000 and Deferred revenues--property taxes of $240,000. On January 1, 2021, Rainbow levied property taxes of $5,000,000, of which it estimated that $40,000 would be uncollectible. During the year, Rainbow collected cash of S640,000 from delinquent property taxes receivable from 2020 tax levy and $4,200,000 from 2021 tax levy. It expected it would collect $500,000 in the first 60 days of year 2022 and remaining $260,000 in April of 2024 2. Rainbow City received an expenditure-driven grant from the federal government to provide public concerts to traditionally underserved communities. The grant contained no time limits, but the City must sponsor "qualifying concerts as an eligibility requirement to be reimbursed for concert costs. The City will be reimbursed for each dollarit spends on qualifying concerts up to a maximum of $60,000. During 2021, the City incurred $65,000 of cash expenditures in the qualifying concerts 3. Rainbow City uses the purchase method to account for the acquisition of supplies. At the end of year 2020, the supplies inventory was valued at $50,000, During year 2021, Rainbow purchased $200,000 of supplies. At the end of year 2021, the supplies inventory was valued at $65,000 4. Rainbow City General Fund also had the following transactions a. It purchased a fire engine at a cost of $80,000 b. It sold a police vehicle, originally cost $30,000 for 55.000 c. It received a bill for $25,000 from Motor Pool Internal Service Fund for motor vehicle services d. City's Mass Transit Authority gave $50,000 cash to Rainbow City General Fund since it had positive operating results this year, Answer the following questions: (Hint: consider making journal entries to the transactions above to earn potential partial credit) (Do not add dollar sign do not add comma by yourself to your amoufround the answer to the whole number) d. City's Mass Transit Authority gave $50,000 cash to Rainbow City General Fund since it had positive operating results this year. Answer the following questions: (Hint: consider making journal entries to the transactions above to earn potential partial credit) (Do not add dollar sign; do not add comma by yourself to your amount: round the answer to the whole number) 1. The amount of Property taxes revenues reported on the 2021 General Fund operating statement would be 2. The amount of Deferred revenues---property taxes reported on December 31, 2021 General Fund balance sheet would be 3. The amount of Intergovernmental revenues---grants reported on 2021 General Fund operating statement would be 4. The amount of Expenditures---supplies reported on 2021 General Fund operating statement would be 5. The amount of Nonspendable fund balance reported on year-end General Fund balance sheet would be 6. The amount that should be included as Other financing sources on 2021 General Fund operating statement would be