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What st olafs accounting department make at the end

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Question 1: The Town of St. Olaf expects to collect $15,000 in employee wage withholding tax from the state government within 30 days of the end of fiscal year 2018. What entry, if any, would St. Olaf's accounting department make at the end of 2018?

Debit taxes receivable $15,000;                       credit deferred inflows $15,000

Debit taxes receivable - deferred $15,000;         credit revenues control $15,000

Debit due from state government $15,000;          credit revenues control $15,000

Debit due from state government $15,000;          credit deferred inflows $15,000

Reference no: EM132473852

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