Ford County Levies for Its General Fund $1,000,000 in Property

Ford County levies for its General Fund $1,000,000 in property taxes. In addition, the county is responsible for collecting $2,000,000 in property taxes for the consolidated school district and $500,000 in property taxes for a town within the county. 2% of all taxes levied are expected to be uncollectible. When recording the levies in an agency fund, what amount would Ford County record as Taxes Receivable for Other Governments - Current and Due to Other Governments?

A) $2,500,000
B) $2,450,000
C) $3,500,000
D) $3,430,000

Correct Answer:

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