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Question 1 1 pts The county levied property taxes of $5,000,000. It is estimated that 2% will be uncollectible. The rest of the taxes
Question 1 1 pts The county levied property taxes of $5,000,000. It is estimated that 2% will be uncollectible. The rest of the taxes are expected to be collected by year end or soon enough thereafter to be considered available at year end. Which of the following would be a correct entry? (CR) Allowance for Uncollectible Taxes-Current 100,000 (CR) Taxes Receivable-Current 5,000,000 (DB) Revenues 4,900,000 (DB)Allowance for Uncollectible Taxes-Current 100,000
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