In the current year, the Village of Cheshire collected delinquent taxes in the amount of $530,000, on
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In the current year, the Village of Cheshire collected delinquent taxes in the amount of $530,000, on which interest and penalties of $25,000 had been accrued at the end of 2016; further $4,000 additional interest was collected for the period from the first day of 2017 to the dates on which the delinquent taxes were collected. What is the journal entry to record the above?
Related Book For
Canadian Income Taxation planning and decision making
ISBN: 9781259094330
17th edition 2014-2015 version
Authors: Joan Kitunen, William Buckwold
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