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If a taxpayer fails to pay his property taxes on time and the city decides to fo

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9 years ago

If a taxpayer fails to pay his property taxes on time and the city decides to fo

If a taxpayer fails to pay his property taxes on time and the city decides to foreclose the property, what accounting entry should the city make?
      a.   write off the property tax receivable as uncollectible
      b.   reduce property tax revenues by the amount of the receivable
      c.   reclassify the property tax receivable account to a delinquent receivable account
      d.   reclassify the property tax receivable account to a tax lien receivable account

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Diesel

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f_zah1

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goji.go Author

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9 years ago

Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth

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Diesel

f_zah1

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9 years ago

You're very welcome!

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