The following transactions occurred in the General Fund of Smyth County.Prepare the journal entry(s)as instructed for each.Assume each item is independent of each other.
$8,500,000.Total planned transfer to debt service funds for 2012 is $900,000.Record the budget (without subsidiary ledger detail).
B.Smyth County was able to get a Tax Anticipation Note that was secured by the county's power to tax.The county borrowed $400,000 and planned to repay the loan as tax collections begin to exceed current disbursements for the year.Upon repayment of the loan the county must pay $10,600 in interest.- Record the Note payable and the later repayment of the note payable.
C.Property taxes of $7,000,000 were levied for Smyth County.Assume that 2.5 percent of these taxes are estimated to be uncollectible due to local economic conditions.- Record the entry when the tax is levied.
D.During 2012 the billing staff inappropriately had duplicate bills for the same properties in the amount of $25,000.Record the entry to correct this error.
E.Upon examining the revenues and expenditures to date,the governing board decided to amend the budget.The revenue budget needs to be decreased by $95,000 and the appropriations should be increased by $60,000.- Record the amendments to the budget when legally approved.
F.A review of the Tax Receivable subsidiary ledger indicates the following:
● $20,000 would be received 120 days after year-end
● $42,000 would be received 90 days after year-end
● $25,000 would be received 60 days after year-end
● $21,000 would be received 30 days after year-end
Record the property tax revenue deferred that is required by the GASB
G.The treasurer of Smyth County approved the write-off of delinquent taxes from 2013 totaling $10,200 and related interest and penalties of $750.- Record the write-off of uncollectible delinquent taxes.

The Village of Naples Has $18,000 of Purchase Orders Outstanding

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