Question
15: A property tax lien is placed against taxpayer AAA for delinquent property taxes $2,000 and accrued penalties $200. The entry to record this transaction
15:
A property tax lien is placed against taxpayer AAA for delinquent property taxes $2,000 and accrued penalties $200. The entry to record this transaction is
a.
Debit tax lien receivable $2,200; Credit revenue-property tax $2,000, revenue-penalties $200.
b.
Debit tax lien receivable $2,200; Credit property tax receivable-delinquent $2,000, revenue-penalties $200.
c.
Debit property tax receivable $2,200; Credit property tax receivable-delinquent $2,000, revenue-penalties $200.
d.
Debit tax lien receivable $2,200; Credit property tax receivable-delinquent $2,200
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