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Our City issued a $30,000 PT refund because the company which paid the PT had increased employment during the year in order to qualify
Our City issued a $30,000 PT refund because the company which paid the PT had increased employment during the year in order to qualify for the refund. Our City had previously made no provision for refunds. Assuming that this property owner had already paid all PT due this year, the JE to record the $30,000 would include a debit to Allowance for Refunds and uncollectible taxes? True False
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