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Property taxes in the amount of $3,000,000 are billed to city property owners. It is estimated that two percent will prove to be uncollectible. In
Property taxes in the amount of $3,000,000 are billed to city property owners. It is estimated that two percent will prove to be uncollectible. In recording this event, A) estimated Revenues would be credited for $2,940,000. B) bad Debts would be debited for $60,000. C) tax Liens Receivable would be debited for $60,000. D) allowance for Uncollectible Current Property Taxes would be credited for $60,000
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