Prepare entries to record the following transactions and events related to Colfax County's tax revenues in its General Fund for the year beginning January 1, 2019:
a. The state collects sales taxes on behalf of Colfax County. It sends the County $150,000 for sales taxes collected during the year.
b. To prepare financial statements for the year, the County comptroller determines that the state will remit $10,000 to Colfax in January 2020 for sales taxes collected by merchants in December 2019. The County considers taxes expected to be collected by the end of February 2020 as available.

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The Answer of Prepare entries to record the following transactions and events related to Colfax County's tax revenues in its General Fund for the year beginning January 1, 2019:
a. The state collects sales taxes on behalf of Colfax County. It sends the County $150,000 for sales taxes collected during the year.
b. To prepare financial statements for the year, the County comptroller determines that the state will remit $10,000 to Colfax in January 2020 for sales taxes collected by merchants in December 2019. The County considers taxes expected to be collected by the end of February 2020 as available.

Prepare Entries to Record the Following Transactions and Events Related