The General Fund of the City of Atlanta Received a Check

Multiple Choice

The general fund of the City of Atlanta received a check for $10,000 from an Atlanta resident on July 1,20X8.Of the amount received,$4,800 represented full payment of property taxes for 20X8,and the remaining $5,200 represented an advance payment for property taxes of 20X9.On July 1,20X8,the general fund should record the receipt by debiting Cash for $10,000 and by crediting

A) Revenue-Property Tax for $10,000.
B) Property Taxes Receivable-Current for $4,800 and Deferred Revenue for $5,200.
C) Revenue-Property Tax for $4,800 and Deferred Revenue for $5,200.
D) Property Taxes Receivable-Current for $4,800 and Revenue-Property Tax for $5,200.