11. [Para. 4-a-11] Interest and penalties receivable on delinquent taxes was increased by $8,454; $1,536 of this was estimated as uncollectible and based on past history $2,113 was considered to be unavailable for use in the current fiscal year. Required: Record this transaction in the General Fund and governmental activities journals. The $2,113 considered unavailable for use is recorded as deferred inflows of resources in the General Fund journal and as revenue in the governmental activities journal.
11. [Para. 4-a-11] Interest and penalties receivable on delinquent taxes was increased by $8,454; $1,536 of this was estimated as uncollectible and based on past history $2,113 was considered to be unavailable for use in the current fiscal year. Required: Record this transaction in the General Fund and governmental activities journals. The $2,113 considered unavailable for use is recorded as deferred inflows of resources in the General Fund journal and as revenue in the governmental activities journal.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please answer question 11 [Para. 4-a-11]
![11. [Para. 4-a-11] Interest and penalties receivable on delinquent taxes was increased
by $8,454; $1,536 of this was estimated as uncollectible and based on past history
$2,113 was considered to be unavailable for use in the current fiscal year.
Required: Record this transaction in the General Fund and governmental
activities journals. The $2,113 considered unavailable for use is recorded as
deferred inflows of resources in the General Fund journal and as revenue in the
governmental activities journal.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd046fed3-afa8-4b62-b61b-e027e2dbdbcb%2F3ebbda52-58b4-407e-98a4-4e5a588bfe3e%2Fz696nq7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:11. [Para. 4-a-11] Interest and penalties receivable on delinquent taxes was increased
by $8,454; $1,536 of this was estimated as uncollectible and based on past history
$2,113 was considered to be unavailable for use in the current fiscal year.
Required: Record this transaction in the General Fund and governmental
activities journals. The $2,113 considered unavailable for use is recorded as
deferred inflows of resources in the General Fund journal and as revenue in the
governmental activities journal.
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