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The City of Stewart levies property taxes of $1,800,000 for its current fiscal year. The City expects to collect all of the property taxes before its fiscal year-end. What journal entry, if any, should the City of Stewart make to record this levy of the property taxes in its General Fund? a. Property taxes receivable 1,800,000 Revenues-property taxes 1,800,000 b. Property taxes receivable 1,800,000 Other financing source-property taxes 1,800,000 c. Property taxes receivable 1,800,000 Deferred revenues-property taxes 1,800,000 d. No entry is required because this transaction relates to an activity accounted for in the General Fund and revenue should only be recognized when it is collected.