Required Informetion [The following information applies to the questions displayed below.] The county coliector of Sun County Is responsible for collecting all property taxes levied by funds and governments within the boundarles of the county. To reimburse the county for estimated administrative expenses of operating the tax custodial fund, the custodial fund deducts 4 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, $13,800,000 of the current year's taxes was collected 3. The 4 percent administrative collection fee was recorded. A schedule of amounts collected for each participant. showing the amount withheld for the county General 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 tox custodial fund was distributed. 5. Necessary closing entnes were made at fiscal year-end b. Prepare journal entries for eoch of the foregoing transactons that affected the Sun County General Fund Begin with the tax levy entry, assuming 2 percent of the gross levy wil be uncollectible. (if no entry is requilred for a transoction/event, select "No Journal Entry Requlred in the first account field. Do not round Intermedlote calculations. Round your answers to the nearest whole dollor amount.) Journal entry worksheet Mecerd the levy of current-year tar. b. Prepare journal entries for each of the foregoing transactions that affected the Sun county General Fund Begin with the tax levy entry, assuming 2 percent of the gross levy will be uncollectible. (If no entry is requlred for a uransactlon/event, select "No Journal Entry Required" in the flrst account fleld. Do not round intermedlate calculations. Round your answers to the nearest whole doller emount.) Journal entry worksheet Pecord the levy of current-year tax. Wstei Fruec debiti before crediti. b. Prepare Journal entries for each of the foregoing transactions that affected the Sun County General Fund. Begin with the tax levy entry, assuming 2 percent of the gross levy will be uncollectible. (If no entry is requlred for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermedlate caiculations. Round your answers to the nearest whole dollor omount.) Journal entry worksheet