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How much should the town report as property tax revenue

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Question - On the first day of its fiscal year (January 1, 2022), a town recorded General Fund property tax receivables of $600,000. By year-end (December 31), taxpayers had paid a total $575,000. Based on previous experience, the town expected to collect the $25,000 of delinquent taxes as follows: $10,000 in January and February of 2023 and $15,000 between March 5th and August 30th of 2023. How much should the town report as property tax revenue in its General Fund statements for the year 2022?

Reference no: EM133147389

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