,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.

Name: Dawson City has a December 31 fiscal year end. The City levies proper
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Description: Dawson City has a December 31 fiscal year end. The City levies property taxes of$5,000,000 on February 1, 2022 and expects 2% to be uncollectible. The City hastwo due dates for collection, 1/2 on October 31, 2022 and 1/2 on April 30, 2023.Record the

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter9: Current Liabilities And Contingent Obligations

Section: Chapter Questions

Problem 7P

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