Sive Exit Exercise 1-3 Benton County maintains a tax agency fund for use by the County Treasurer to record receivables, collections, and disbursements of all property tax collections to all other units of government in the county, For FY 2016-2017, the following taxes were assessed: Benton County General Pund Town of Thomas Town of Hart Benton County School District Various Special Districts Total $18,350,000 6,035,000 4,025,000 18,365.000 4,830,000 $51,605,000 During the first six months of the fiscal year, the following transactions took place: 1. The tax levy became effective. All units of government provided for an estimated 2 percent in uncollectible taxes, 2. Cash collections of the first installment of taxes were as follows: Benton County General Pund Town of Thomas Town of Hart Benton County School District Various Special Districts Total $8,800,000 3.620,000 2,415,000 8,805,000 1129,000 $24,769,000 3. Record the liability to the other governmental units, assuming that the county General Fund charges other governments 1.5 percent of all tax collected because the county General Fund incurs all costs of billing, recording, and collecting taxes. 4. Cash was paid to the various governmental units Required: a. Record the transactions on the books of the Benton County Tax Agency Fund. b. Record the transactions on the books of the Benton County General Fund c. Record the transactions on the books of the Town of Thomas