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Timberland City levies $900.000 of property taxes for its current fiscal year. Two percent of the tax levy is expected to be uncollectible. The city
Timberland City levies $900.000 of property taxes for its current fiscal year. Two percent of the tax levy is expected to be uncollectible. The city collects $812,000 of its taxes during the year and another S48,000 during the first two months of the following year. In addition, the city collected $16,000 of prior year taxes during the first two months of the current fiscal year and another $5,000 during the remainder of the current fiscal year. What amount of property tax revenues should the city report in the government-wide financial statements for the current fiscal year? 5812,000. S882,000. S860,000. 5865,000
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