5. [Para. 8 - 6 - 61 Make the year- end journal entry to reclassify all uncollected current taxes as delinquent . Add to the receivable amount interest and penalties of 4 percent of the reclassified amount ( round amount to nearest whole dollar ) . The interest and penalties portion of the total amount should be debited to Taxes Receivable for Other Funds and Governments - Delinquent and credited to Due to Other Funds and Governments . You need only record the aggregate amounts reclassified in the general journal ; the tax administrator will update the detailed tax ledger records for these reclassifications