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20-12-2022
Business

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the town of pavilion's july 1, 2015 balance sheet reports the following property tax accounts: taxes receivable $300,000 allowance for uncollectible taxes (140,000) taxes receivible, net $160,000 during fiscal 2016, $170,000 in cash is collected on fiscal 2015 taxes and the remainder are written off. the town levies fical 2016 property taxes in the amount of $2,000,000. it estimates that uncollectible property taxes for 2016 are $120,000. cash collected for 2016 property taxes is $1,825,000. $30,000 of the remaining uncollected 2016 taxes are expected to be collected early in fical 2017. what are property tax revenues for fiscal 2016? $1,825,000 $1,865,,000 $1,695,000 $1,840,000

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