(Solved): Following are (a) a condensed summary of a recent General Fund budget adopted by the village of Cro ...

Following are (a) a condensed summary of a recent General Fund budget adopted by the village of Croton-on-Hudson, New York, and (b) the total assessed value of taxable properties in the village. Prepare the journal entry to record the budget. Compute the property tax rate per \( \$ 1,000 \) of taxable assessed value. Note: Round answer to three decimal places.