t/f

30. Suppose that Caddo Parish GF estimates that 6% of its general property-tax levy will be uncollectible. The JE needed to record the assessment of taxes will be to DR Taxes Receivable Current for 25,000,000, to CR Estimated Uncollectible Current Taxes for 1,500,000 and to CR OFS for 23,500,000. 31. The correct JE to record the collection of the tax by the TCF, i.e., the transaction recorded Question # 26 above, is none (no JE should be made by Caddo Parish GF). 30. Suppose that Caddo Parish GF estimates that 6% of its general property-tax levy will be uncollectible. The JE needed to record the assessment of taxes will be to DR Taxes Receivable Current for 25,000,000, to CR Estimated Uncollectible Current Taxes for 1,500,000 and to CR OFS for 23,500,000. 31. The correct JE to record the collection of the tax by the TCF, i.e., the transaction recorded Question # 26 above, is none (no JE should be made by Caddo Parish GF)