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The village of maple park recorded $2,546,225 of property tax revenue when the property tax was...

  1. The village of maple park recorded $2,546,225 of property tax revenue when the property tax was levied in 2019. $38,775 of the levy was expected to be uncollectible. On the two property tax collection dates, a total of $2,516,225 was collected. On December 31, 2019, the village expected property tax collections during the balance of 2020 to be $12,000.

Required:

Make adjusting and reclassification entries related to property taxes for the general fund Maple Park on December 31, 2019.

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