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When property tax payments are not collected by the due date, what account should be debited to reclassify these unpaid current taxes as delinquent? What
When property tax payments are not collected by the due date, what account should be debited to reclassify these unpaid current taxes as delinquent? What account should be credited to reclassify these unpaid current taxes as delinquent? What additional account should be credited to account for any interest and penalties now due on delinquent property taxes?
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