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How much the village recognize as property tax revenues

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Question - A village levied property taxes of $910,000 for calendar year 2019 on January 1, 2019 and immediately set up an allowance of $10,000 for uncollectible taxes. The village collected $870,000 in cash during 2019. It expected to collect $22,000 of the unpaid taxes during the first 60 days of 2020 and an additional $8,000 during the rest of 2020. How much would the village recognize as property tax revenues in its 2019 General Fund financial statements?

Reference no: EM132687660

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