Prepare the following Journal Entries.
Property taxes were levied in the amount of $630,000; 3 percent of this amount was estimated to prove uncollectible. These taxes are available as of the date of levy to finance current expenditures. 2. During the year, a village resident donated marketable securities valued at $75,000 to the village under the terms of a trust agreement which stipulates that the principal amount be kept intact. The revenue generated by the securities is restricted to providing support to the village Library. Revenue earned and received on these amounted to $3,000 through December 31, 20X8. 3. During the year, the internal service fund purchased various supplies at a cost of $3,000. 4. Current property taxes collected during the year was $625,000. Licenses and permit fees collected amounted to $15,900. 5. Purchase orders were issued in the amount of $90,000 for equipment and $630,000 for other goods and services.