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Business, 18.10.2021 21:30 jeremiahsingleton

A city levied property taxes of $5,010,000 for its General Fund and it offered a 1 percent discount for payment within the discount period. Based on experience, city finance officials estimated that $10,000 of discounts would be taken. However, when the discount period ended, $5,002,000 of cash had been collected and only $8,000 of discounts had been taken. What is the amount of property tax revenue that the city should record

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A city levied property taxes of $5,010,000 for its General Fund and it offered a 1 percent discount...
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