A county had borrowed $18,000,000 to finance construction of a general government capital project. The debt will be serviced from collections of a special assessment levy made for the project. The county levied the special assessments in 20X8. Ten percent of the assessments are due in 20X8. The 20X8 and early 20X9 collections on the assessments total $1,500,000. The amount of special assessments revenue that should be recognized in the county’s Special Assessments DSF for 20X8 is

a. $0. Special assessments are reported as other financing sources.

b. $1,500,000.

c. $1,800,000.

d. $18,000,000.