Required information The following information applles to the questions displayed below]. The county collector of Sun County is responsible for collecting all property taxes levied by funds and governments within the boundaries of the county. To reimburse the county for estimated administrative expenses of operating the tax custodial fund, the custodial fund deducts? percent from the collections for the town the school district and the other towns. The total amount deducted is added to the collections for the county and remitted to the Sun County General Fund. The following events occurred during the year: 1. Current-year tax levies to be collected by the custodial fund were 2. During the year, $20,358,000 of the current year's taxes was collected. 3. The 2 percent administrative collection fee was recorded. A schedule of amounts collected for each participant, showing the amount withheld for the eounty Generat fund and net amounts due to the participants, is recommended for determining the amount to be recorded for this transaction. 4. All cash in the tax custodial fund was distibuted. 5. Necessary closing entries were made at fiscal year-end. for determining the amount to be recorded for this transaction. 4. All cash in the tax custodial fund was distributed 5 Necessary closing entries were made at fiscal year-end. Prepare joumal entries for each of the foregoing entres that afiected the Town of Bayshore Bequn with the tox lew entiy, assuming ipersent of the gross lewy wil be uncollectible. (If no entry is required for o transaction/event, select "No Journal Entry Required" in the first account field, Do not found intermediate caleulotions. Round your answers to the nearest wholo dolisr amount.)