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Business, 07.10.2019 19:30 xaviercamara080

Acity borrows $800,000 in january because it does not receive property taxes until may. it borrows on a tax anticipation note, which it will repay in may when taxes are collected. how would the city classify the note if it were to prepare governmental-type fund financial statements on march 31?

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Acity borrows $800,000 in january because it does not receive property taxes until may. it borrows o...
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