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

question 120

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: Property Taxes
• C) A credit to Revenues Control
• D) B and C would both be included in the journal entry

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Definitions:

Remote Control

A device used to operate another device from a distance, commonly through infrared or wireless connectivity.

Norepinephrine

Norepinephrine is a neurotransmitter and hormone important in the body's fight or flight response, involved in increasing heart rate and blood pressure.

Sympathetic Nerve

Part of the autonomic nervous system that stimulates the body's fight or flight response.

Sympathetic Control

The regulation of bodily functions by the sympathetic nervous system, which activates the body's "fight or flight" response.