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Title: A city levies property taxes of $1,050,000, but believes that it will not be abl Post by: goji.go on Oct 20, 2014 A city levies property taxes of $1,050,000, but believes that it will not be able to collect $50,000 of those taxes. What entry should it make when the taxes are levied?
a. Property taxes receivable 1,050,000 Allowance for uncollectible taxes 50,000 Revenues - property taxes 1,000,000 b. Revenues - property taxes 50,000 Allowance for uncollectible taxes 50,000 c. Property taxes receivable 1,000,000 Revenues - property taxes 1,000,000 d. Allowance for uncollectible taxes 50,000 Revenues - property taxes 50,000 e. No entry is required because cash has not yet been received. Title: Re: A city levies property taxes of $1,050,000, but believes that it will not be abl Post by: f_zah1 on Oct 23, 2014 Content hidden
Title: Re: A city levies property taxes of $1,050,000, but believes that it will not be abl Post by: goji.go on Oct 23, 2014 Thanks so much f_zah1.
You were correct :D Title: Re: A city levies property taxes of $1,050,000, but believes that it will not be abl Post by: f_zah1 on Oct 23, 2014 You're very welcome!
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