Event 1 - The Blake County commissioners pass a property tax levy totaling $5,100,000. Based on prior
Question:
Event 1 - The Blake County commissioners pass a property tax levy totaling $5,100,000. Based on prior year collection rates, it is estimated that $100,000 in property taxes will be uncollectible.
Event 2 - During 2011, the general fund of Blake County collected $405,000 in licenses and permits.
Problem 1.
Event 1: The Blake County commissioners pass the property tax levy and taxpayers are billed for property taxes.
For each general fund account listed below, indicate whether the account will be debited, credited, or is not affected by this event. Click in the associated cell and select the appropriate answer.
Account Title Debit/Credit/Not Affected
Allowance for Uncollectible Taxes
Appropriations (Control)
Bad Debt Expense
Cash
Estimated Reveunes (Control)
Property Tax Receivable
Revenues (Control)
Answer if the account is debited, credited, or not affected.
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling