Apr. Collections on delinquent property taxes were $100,000, and interest of $4,500 was collected. The interest had not been accrued. The balance of the account was converted into tax liens. July...

Apr. Collections on delinquent property taxes were $100,000, and interest of $4,500 was collected. The interest had not been accrued. The balance of the account was converted into tax liens.

July Current property taxes were levied for $422,000 with a 5% allowance for uncollectible amounts.

Sept. Collection of current property taxes totaled $345,000. The tax anticipation notes were paid off with interest of $18,000.