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Tiberian30
Oct 22, 2007, 12:23 PM
5. If I receive my $9,600 Property Tax assessment for my 2005 property taxes from the county tax collector on November 1, 2005, and elect to pay it in February 1 next year (plus a 3% premium for delayed payment,) what transactions should I record
a. On November 1, 2005
b. On December 31, 2005 (the end of my fiscal year.)
c. On February 1, 2006 (when I finally pay.)