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  3. part two: please show the journal entries (with de

Part Two: Please show the journal entries (with debits and credits) that would be made...

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Accounting

Part Two: Please show the journal entries (with debits and credits) that would be made for each
of the following transactions in a City's General Fund - for these questions, assume the fiscal
year runs from January 1,2022 through December 31,2022: (15% of points)
On January 1,2022, a city received delivery of a police car and an invoice for payment of
$35,000 due within 30 days.
On January 15,2022, the city paid that invoice in full.
On December 31,2022, the city received delivery of another police car and an invoice for
payment of $40,000 due within 30 days.
On February 1,2022, the city levied $5,000,000 in property taxes for FY 2022. Taxes are
due by April 30,2022. The city believes all taxes will be collected; no uncollectible
allowance is needed.
At December 31,2022, the city had collected $4,200,000 of the property taxes levied
above. $800,000 is still unpaid as of that date but is believed to be fully
collectible. However, based on past experience, the city estimates that $200,000 will becollected more than sixty days beyond the end of the fiscal year.
On December 31,2022, the city paid $75,000 in principal and $25,000 in interest on a long.term bond (on the day it was due).
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