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For a given year, a government realizes that $20,000 of taxes levied for the year will not be paid until at least 90 days after
For a given year, a government realizes that $20,000 of taxes levied for the year will not be paid until at least 90 days after the end of the fiscal year. The government records this as: Question 33 options: a reduction of revenues and an increase in the allowance for bad debts a reduction of revenues and an increase in deferred inflows an increase in revenues and a decrease in deferred outflows
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