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Question 11 2 pts The County levied property taxes of $10,000,000 and estimated uncollectible taxes of 1%. The journal entry to record the levy would
Question 11 2 pts The County levied property taxes of $10,000,000 and estimated uncollectible taxes of 1%. The journal entry to record the levy would include the following: In GF, DR: Property Tax Receivable $10,000,000; CR: Deferred Resource Inflow- Property Taxes $100,000; CR: Property Tax Revenue $9.900,000. In GF, DR: Property Tax Receivable $10,000,000; DR: Uncollectible Accounts Expense $100,000; CR: Allowance for Uncollectible Accounts $100,000; CR: Property Tax Revenue $10,000,000. In GF, DR: Property Tax Receivable $10,000,000; CR: Allowance for Uncollectible Accounts $100,000; CR: Property Tax Revenue $9.900,000. In GF, DR: Property Tax Receivable $9.900,000; CR: Property Tax Revenue $9,900,000
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