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QUESTION
Given the following account balances: Deferred inflows property tax at 9-30-16. 80,000 Property tax levy current year.900,000 Encumbrances.
Given the following account balances:
• Deferred inflows property tax at 9-30-16.......... 80,000
• Property tax levy current year........................900,000
• Encumbrances...........................................30,000
• Deferred inflows property tax at 9-30-17........... 50,000
• Estimated uncollectable taxes..........................2%
What amount is reported as REVENUES for the fiscal year 10-01-16 to 9-30-17?
A. $852,000 B. $900,000 C. $882,000 D. $912,000
