Required information The rolowing information appies to the questionts displayed below The county collector of Suncoast 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 1.9 percent from the colections 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 Suncoast County General Fund. The following events occurred during the year: L Current-year tax levies to be collected by the custodial fund were County General Fund Town of Bayshore General Fund Suncoast County Consolidated school D1 trict other towns Total $10,373,000 4,860, 000 6,570,000 3,160.000 $24,963,000 2. $13,740,000 of current taxes was collected during the first half of the year 3. Liabilities to all funds and governments as a result of the first haf-year collections were recorded. (A schedule of amounts collected for each participant, showing the amount withheld for the county General Fund and net amounts due the partidpants, is recommended for determining amounts to be recorded for this transaction.) 4 All cash in the tax custodial fund was distributed. 5. All additions and deductions were recorded by the custodial fund. Addtions and deductions are aggregated because resources are held less than three months. Required a. Prepare journal entries for each of the foregoing transactions that affected the tax custodial fund. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Record the additions and deductions by the custodial fund Note: Enter debits before credits. Transaction General Journal Debit Credit eductions-Administrative Fee Deductions-Payments Of Property Taxes To Other Governments Collections For Other Governments Record entry View general journal Clear entry b. Prepare journal entries for each of the foregoing transactions that affected the Suncoast County General Fund. Begin with the tax levy entry, assuming4 percent of the gross levy will be uncollectible. [If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) View transaction list A Record the revenues receivable and uncollectible B Record the foregoing transactions that affected the Suncoast County General Fund C Record the liabilities due to a funds and govenments a the end of first half-year. Credit D Record the taxes collected. Note:-journal entry has been entered Record entry View general journal Clear entry c. Prepare journal entries tor each of the foregoing entries that affected the Town of Bayshore General Fund. Begin with transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) View transaction list A Record the revenues receivable and uncollectible. B Record the fogoing transactions that affected the Town of Bayshore General Fund C Record the liabilities due to a funds and govenments a the end of first half-year. Credit D Record the taxes collected. Note:-journal entry has been entered Record entry View general journal Required information The rolowing information appies to the questionts displayed below The county collector of Suncoast 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 1.9 percent from the colections 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 Suncoast County General Fund. The following events occurred during the year: L Current-year tax levies to be collected by the custodial fund were County General Fund Town of Bayshore General Fund Suncoast County Consolidated school D1 trict other towns Total $10,373,000 4,860, 000 6,570,000 3,160.000 $24,963,000 2. $13,740,000 of current taxes was collected during the first half of the year 3. Liabilities to all funds and governments as a result of the first haf-year collections were recorded. (A schedule of amounts collected for each participant, showing the amount withheld for the county General Fund and net amounts due the partidpants, is recommended for determining amounts to be recorded for this transaction.) 4 All cash in the tax custodial fund was distributed. 5. All additions and deductions were recorded by the custodial fund. Addtions and deductions are aggregated because resources are held less than three months. Required a. Prepare journal entries for each of the foregoing transactions that affected the tax custodial fund. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Record the additions and deductions by the custodial fund Note: Enter debits before credits. Transaction General Journal Debit Credit eductions-Administrative Fee Deductions-Payments Of Property Taxes To Other Governments Collections For Other Governments Record entry View general journal Clear entry b. Prepare journal entries for each of the foregoing transactions that affected the Suncoast County General Fund. Begin with the tax levy entry, assuming4 percent of the gross levy will be uncollectible. [If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) View transaction list A Record the revenues receivable and uncollectible B Record the foregoing transactions that affected the Suncoast County General Fund C Record the liabilities due to a funds and govenments a the end of first half-year. Credit D Record the taxes collected. Note:-journal entry has been entered Record entry View general journal Clear entry c. Prepare journal entries tor each of the foregoing entries that affected the Town of Bayshore General Fund. Begin with transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) View transaction list A Record the revenues receivable and uncollectible. B Record the fogoing transactions that affected the Town of Bayshore General Fund C Record the liabilities due to a funds and govenments a the end of first half-year. Credit D Record the taxes collected. Note:-journal entry has been entered Record entry View general journal