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Indicate the amount of revenue that Beanville should recognize in its 2020 (1) government-wide statements...

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Accounting

Indicate the amount of revenue that Beanville should recognize in its 2020 (1) government-wide statements and (2) governmental fund statements. Provide a brief justification or explanation for your responses.

It estimates the balance of $32 million would be uncollectible. In addition, in the period from January 1 through February 28, 2020, the city collected $16 million in taxes that were delinquent as of December 31, 2019. In the period March 1 through June 30 2020, the city collected $8 million of taxes that were also delinquent as of December 31, 2019.

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