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egning of the year, the city levied property taxes, and collected majority of the levied...

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Accounting

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egning of the year, the city levied property taxes, and collected majority of the levied property tax. At the end of the year, all the outstanding amount of property tax receivable in the amount of $1,000,000, with a corresponding $40,000 allowances for uncollectible tase declared delinquent. Please write the journal entries to record the above information Property taxes receivable $1,000,000 Property taxes receivable - delinquent $1,000,000 Allowances for uncollectible taxes-delinquent $40,000 Allowances for uncollectible taxes $40,000 O Property taxes receivable - delinquent $1,000,000 Property taxes receivable $1,000,000 Allowances for uncollectible taxes $40,000 Allowances for uncollectible taxes-delinquent $40,000 O Property tax revenue $1,000,000 Property taxes receivable $960,000 Allowances for uncollectible taxes $ 40,000 O Property taxes receivable $1,000,000 Allowances for uncollectible taxes $ 40,000 Pronerty tax revenue $960,000

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