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The Journal Entry to Record the Prior Year's Deferred Inflows

Question 17

Multiple Choice

The journal entry to record the prior year's deferred Inflows: property taxes (those expected to be collected more than 60 days beyond year-end) as revenue in the current year would include:


A) A debit to Revenues Control
B) A debit to Deferred Inflows: Revenues
C) A credit to Revenues Control
D) B and C would both be included in the journal entry

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