The Town of Quincy's fiscal year ends on June 30. The following data relate to the property tax lewy far the fiscol yeat ended June 30 . 2020 a. The balance in Deferred Inflows - Property Takes was $74,000 of the end of the prevous yeat. This was recognized as revenue in the current yeat in a reversing journal entry. b. On July 1, 2019. property taxes in the arnount of $8,950.000 were levied it was estimated that 0.5 percent would be uncollectible The property taxes were intended to finance the expenditures far the year ended June 30.2020 c. October 31, $4,825,000 in property tares were collecied d December 31,$3,925.000 in additional property tares were collected e. Receivables totaling $10,950 were deemed to be uncollectible and witten off f. On dune 30, \$82,000 was moved from Revenues Control to Deferred Inflows. because it was not expected to be collected within 60 days: Prepore journal entries for each of the dates as indicated af no entry is required for a transactionievent, select "No Journal Entry Required" in the first account field.) Journal entry worksheet The balance in Deferred Inflows - Property Taxes was $74,000 at the end of the previous year. This was recognized as revenue in the current year in a reversing journal entry. Fotel Enter debit, before sreditt