The uncollected balance of current taxes receivable and the related estimated uncollectible account were reclassified as delinquent. Property tax revenues and deferred inflows of resources were adjusted for unavailable revenues. Interest and penalties of $1,200 were accrued, of which $120 was estimated to be uncollectible. Required:
Record this transaction in both the debt service fund and governmental activities journals. In the debt service fund net receivables and interest and penalties should be also be recorded as deferred inflows of resources, rather than revenues.