Business
Business, 30.07.2019 03:20, TombRaider167

Acity that has a 12/31 fiscal year end has adopted a policy of recognizing the maximum amount of property tax revenue allowable under gaap. property taxes of $720,000 (of which 10 percent are estimated to be uncollectible) are levied in october 2017 to finance the activities of the fiscal year 2018. during 2018, cash collections related to property taxes levied in october 2017 were $600,000. in 2019 the following amounts related to the property taxes levied in october 2017 were collected: january $30,000; march, $6,000. for the fiscal year ended 12/31/18, what amount should be recognized as property tax revenues related to the october 2017 levy on the governmental fund financial statements?

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