Hackett, Inc. had property tax payable of $940,000 and $100,000 at the end of 2018 and 2019 respectively. During 2019, Hackett recorded $790,000 in property tax expense on its income statement. Cash outflows for property tax during 2019 were ________.
A) $1,630,000
B) $790,000
C) $50,000
D) $690,000
Correct Answer:
Verified
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