or D. $194

A town levied property taxes of $1,050,000 for its current calendar year on January 1 and set up an allowance of $30,000 for uncollectible taxes and an allowance of $20,000 for discounts on property taxes. How much should the village recognize as property tax revenues when it makes the journal entry on January 1 to initially record its property taxes receivable? a. $1,050,000 b. $1,030,000 C. $1,020,000 d. $1,000,000 A state collects $180 million in withheld and estimated tax payments during the 2022 calendar year and an additional $10 million in withheld and estimated tax payments in January 2023 applicable to its 2022 calendar year. The state also expects to receive $4 million in tax payments and refund claims of $3 million for 2022 income tax returns filed by April 15, 2023. The state considers pay- ments received with income tax returns filed by April 15 to be available and refund claims received by that date are considered liabilities for 2022. How much revenue should the state report for its year ending December 31, 2022? a. $180 million b. $190 million c. $191 million