Question
The Town of Little River expects to collect $90,000 in sales tax from the state government within 30 days of the end of fiscal year
The Town of Little River expects to collect $90,000 in sales tax from the state government within 30 days of the end of fiscal year 2024 for retail sales taking place in fiscal year 2024. What entry, if any, would Little River make at the end of 2024?\ \ Multiple Choice\ \ Accounts Debit Credit\ Taxes receivable 90,000 \ Due from state government 90,000\ \ Accounts Debit Credit\ Due from state government 90,000 \ Revenues control 90,000\ \ Accounts Debit Credit\ Taxes receivable - deferred 90,000 \ Revenues control 90,000\ \ Accounts Debit Credit\ Taxes receivable 90,000 \ Deferred Inflows 90,000
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