The General Fund of Gillette Levied Property Taxes of $400,000

The general fund of Gillette levied property taxes of $400,000 on November 1,2008.However,the property taxes are not collectible until May and August of 2009.Assume Gillette reports on the calendar year.On Gillette's general fund balance sheet at December 31,2008,the property taxes levied on November 1 should:

A) be reported as an asset and as a decrease in unreserved fund balance.
B) be reported as an asset and as an increase in unreserved fund balance.
C) be reported as an asset and as a reservation of fund balance.
D) be reported as an asset and as a deferred revenue.