Question
The General Fund levied property taxes of $1,000,000 for 2017 with an estimated 3% uncollectible. During 2017 collected $700,000 and wrote off $15,000. Those taxes
The General Fund levied property taxes of $1,000,000 for 2017 with an estimated 3% uncollectible. During 2017 collected $700,000 and wrote off $15,000. Those taxes not collected and not estimated as uncollectible are expected to be collected evenly over the first 3 months of 2018. How much REVENUE will the General Fund recognize for 2017? A. $865,000 B. $970,000 C. $700,000 D. $880,000
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Managerial Accounting
Authors: Ray H Garrison, Alan Webb, Theresa Libby
11th Canadian Edition
1259275817, 978-1259275814
