A Custodial Fund is used to collect and distribute property taxes for several governmental entities. It has

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Question:

A Custodial Fund is used to collect and distribute property taxes for several governmental entities. It has collected cash for the entities of $135,000 and has $270,000 in its Property taxes receivable for other governments account at its fiscal year-end.
What should be the balance in its Due to other governments account at its fiscal year-end?

Select one:

a. $405,000

b. $270,000

c. $0

d. $135,000