Question: 18. [14 points) Using good form, prepare all necessary 2020 journal entries to record the following events for a city that has a 12/31 year-end.

18. [14 points) Using good form, prepare all necessary 2020 journal

18. [14 points) Using good form, prepare all necessary 2020 journal entries to record the following events for a city that has a 12/31 year-end. Write "No Entry Required" if no journal entry is required. a. On January 2, 2020 the City Council levied 2020 property taxes of S1 million, due on September 30, 2020. Historically 3% of property taxes are uncollectible. b. In January 2020. the city collectoli S18,000 in delinquent 2019 taxes. c. In March 2020, the city collected $21,000 in delinquent 2019 taxes. d. In September and October 2020, the city collected a total of $948,000 of 2020 taxes. e. In January 2021, the city collected $14.000 in delinquent 2020 taxes. 10 Format v BIU v : 18. [14 points) Using good form, prepare all necessary 2020 journal entries to record the following events for a city that has a 12/31 year-end. Write "No Entry Required" if no journal entry is required. a. On January 2, 2020 the City Council levied 2020 property taxes of S1 million, due on September 30, 2020. Historically 3% of property taxes are uncollectible. b. In January 2020. the city collectoli S18,000 in delinquent 2019 taxes. c. In March 2020, the city collected $21,000 in delinquent 2019 taxes. d. In September and October 2020, the city collected a total of $948,000 of 2020 taxes. e. In January 2021, the city collected $14.000 in delinquent 2020 taxes. 10 Format v BIU v

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