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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: Debra JeterJames Reeve, Jonathan Duchac, Horace Brock, Paul Chaney
4th Edition
0470506989, 978-0470506981
