5 bounty county had the following transactions in 2011 1 the budget for the county w 4307382

5 bounty county had the following transactions in 2011 1 the budget for the county w 4307382

5) Bounty County had the following transactions in 2011.

1.The budget for the county was approved, showing estimated revenues of $320,000 from local income taxes, and total estimated expenditures of $316,000.

2.Tax bills were mailed amounting to $326,000, which are due in 60 days. All but 2% was expected to be collectible.

3.Taxes collected prior to the due date amounted to $260,800. The balance was delinquent.

4.$4,200 of taxes due were determined to be uncollectible and written off.

5.The year-end books were closed, with the expectation that the remaining taxes due would be collected evenly over the first two months after the fiscal year end.

Required:

Prepare the journal entries for the General Fund for the transactions.

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