At the Start of 2020, a County General Fund Issues

Multiple Choice

At the start of 2020, a county general fund issues property tax bills in the amount of $9,000,000. It expects to collect $8,800,000 from property owners, with the rest expected to be uncollectible. During the year, $8,750,000 in 2020 property taxes is collected. Of the remaining $250,000 in uncollected taxes at year-end, it is estimated that $100,000 will be collected within 60 days and the rest are uncollectible. Property tax revenue for 2020 is:

A) $8,750,000
B) $8,850,000
C) $8,800,000
D) $9,000,000