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A Government levied $500,000 in special assessments. The assessments are due and payable in equal...

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Accounting

A Government levied $500,000 in special assessments. The assessments are due and payable in equal installments in the middle of each fiscal year for the next 5 years. Assume that all installments are collected when due. Prepare the journal entry at the time the assessment was levied.
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A Government levied $500,000 in special assessments. The assessments are due and payable in equal installments in the middle of each fiscal year for the next 5 years. Assume that all installments are collected when due. Prepare the journal entry at the time the assessment was levied

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