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Summer City levies $600,000 of property taxes for its current fiscal year. Three percent of the tax levy is expected to be uncollectible. The

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Summer City levies $600,000 of property taxes for its current fiscal year. Three percent of the tax levy is expected to be uncollectible. The city collects $520,000 of its taxes during the year and another $50,000 during the first two months of the following year. In addition, the city collected $10,000 of prior year taxes during the first two months of the current fiscal year and another $3,000 during the remainder of the current fiscal year. What amount of property tax revenues should the city report in the governmental fund financial statements for the current fiscal year? $570,000. $582,000. $573,000. $520,000.

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