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The journal entry to record the write off of property taxes and related interest and penalties would include: Multiple Choice A credit to Taxes Receivable.
The journal entry to record the write off of property taxes and related interest and penalties would include:
Multiple Choice
- A credit to Taxes Receivable.
- A debit to Estimated Uncollectible Taxes Expense.
- A debit to Fund balance.
- A credit to Estimated Uncollectible Interest and Penalties.
= no explanation needed
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
