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For its fiscal year ending Sep 30,20times 2 , Twin City levied $500 million in property taxes. It collected taxes applicable to fiscal 20times 2
For its fiscal year ending Sep
30,20\\\\times 2
, Twin City levied
$500
million in property taxes. It collected taxes applicable to fiscal
20\\\\times 2
as follows (in millions):\ June 1, 20x1 through Sep 30, 20x1: $20\ Oct 1, 20x1 through
Sep30,20\\\\times 2:$440
\ Oct 1, 20x2 through Nov 30, 20x2: $15\ Dec 20x2:\
$4
\ The city estimates that
$10
million of the outstanding balance will be uncollectible. For the fiscal year ending Sep 30, 20x2, how much should Twin City recognize in property tax revenue(in millions) in its general fund and its government-wide statement of activiites respectively?\
$475,$490
\
$475,$475
\
$490,$475
\
$490,$490
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