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What is the journal entry to record for village of brighton

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Problem 1: In the current year, the Village of Brighton collected delinquent taxes in the amount of $530,000, on which interest and penalties of $25,000 had been accrued at the end of 2019; further $4,000 additional interest was collected for the period from the first day of 2020 to the dates on which the delinquent taxes were collected. What is the journal entry to record the above?

Reference no: EM132959225

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