Carson County Had the Following Transactions for Their General Fund

question 22

Essay

Carson County had the following transactions for their General Fund relating to the levy and collection of property taxes.
1.Property tax bills for $1,000,000 are sent to property tax owners.Taxes are due in 45 days.History shows that Carson County should expect 1.5% of the property taxes to be uncollectible.
2.$850,000 in property taxes is collected.The remaining receivables are past due.
3.An additional $80,000 of the delinquent taxes is collected.
4.Wrote off $10,000 of delinquent taxes determined to be uncollectible.
Required:
Prepare the journal entries in the General Fund for the transactions.

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Definitions:

Criminal Prosecution

The process by which a person is formally charged with a crime by a governmental body and brought to trial.

Waiver of Due Process

The voluntary surrender of an individual’s legal rights to procedural protections in a legal or disciplinary process.

Total Work Days

The total number of days employees are scheduled to work within a specific period, often used to calculate productivity or allocate resources.

NLRA

The National Labor Relations Act, a foundational statute in United States labor law which guarantees the rights of private sector employees to organize into trade unions, engage in collective bargaining, and take collective action such as strikes.