,000,000 on February 1, 2022 and expects 2% to be uncollectible. The City has o due dates for collection, 1/2 on October 31, 2022 and 1/2 on April 30, 2023. ecord the requested journal entries: 1. Record the levy on February 1, 2022, assuming the City records the entire levy as unavailable revenue. 2. Record the collection of property taxes of $2,410,000 on October 31, 2022. 3. Record any necessary adjusting journal entry at December 31, 2022.
,000,000 on February 1, 2022 and expects 2% to be uncollectible. The City has o due dates for collection, 1/2 on October 31, 2022 and 1/2 on April 30, 2023. ecord the requested journal entries: 1. Record the levy on February 1, 2022, assuming the City records the entire levy as unavailable revenue. 2. Record the collection of property taxes of $2,410,000 on October 31, 2022. 3. Record any necessary adjusting journal entry at December 31, 2022.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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