The City of Bayamn imposes a local sales tax that merchants collect and remit to the city before the 20th day of the month following the month of sale. The City maintains its books and records in a manner that facilitates the preparation of financial statements for the funds. The City has adopted a 60-day rule for sales tax revenue recognition, where applicable. Prepare all the necessary journal entries to record the following transactions related to sales tax revenue for the year ended December 31, 20X4.

On January 20, the city receives sales tax returns and related payments of $7,000 from city merchants for the month of December 20X3.

On February 20, the city receives sales tax returns and related payments of $3,000 from city merchants for the month of January 20X4.

During 20X4, the city receives sales tax returns and related payments of $40,000 from merchants for the months of February through November 2014.

On January 20, 20X5, the city receives sales tax returns and related payments of $7,500 from city merchants for the month of December 20X4.