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In Year 1, a county levied $1,500,000 of property taxes and collected $1,400,000 of that levy; in Year 2, the levy was $1,550,000 and the related collections totaled $1,495,000; in Year 3, the levy was $1,575,000 and the related collections totaled $1,530,000. Also, collections of past due taxes in Years 1, 2, and 3 were $15,000, $14,000, and $19,000, respectively. Assuming that the General Fundâ€^TM's deferred revenue at the beginning of Year 1 was $410,000, what would deferred revenue be as of the end of Year 3?

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Accounting Basics, Accounting

Category:- Accounting Basics
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