A property owner receives a property tax bill for $4,000 and appeals the assessment.Before he pays the bill,the city reduces his property tax to $3,000.If the city had previously established an allowance for property tax refunds,what entry should it make to record the reduction?

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The Answer of A property owner receives a property tax bill for $4,000 and appeals the assessment.Before he pays the bill,the city reduces his property tax to $3,000.If the city had previously established an allowance for property tax refunds,what entry should it make to record the reduction?

A Property Owner Receives a Property Tax Bill for $4,000