Question
On December 31, 2016, the delinquent taxes were reclassified as tax liens and fully reserved. Which of the following is correct to record the reclassification
On December 31, 2016, the delinquent taxes were reclassified as tax liens and fully reserved.
Which of the following is correct to record the reclassification of taxes?
- Tax liens receivable 150,000
Taxes receivabledelinquent 150,000
- Tax liens receivable 150,000
Taxes receivabledelinquent 150,000
Allowance for uncollectible tax liens 120,000
Allowance for uncollectible taxes--delinquent 120,000
- Taxes receivabledelinquent 150,000
Tax liens receivable 150,000
Allowance for uncollectible taxes--delinquent 120,000
Allowance for uncollectible tax liens 120,000
- Tax liens receivable 150,000
Taxes receivabledelinquent 150,000
Allowance for uncollectible taxes--delinquent 120,000
Allowance for uncollectible tax liens 120,000
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Modern Auditing
Authors: William C. Boynton, Walter G. Kell, Raymond N. Johnson, Dr William Boynton
7th Edition
047118909X, 978-0471189091
