Hackett, Inc had property tax payable of $75,000 and $110,000 at the end of 2016 and 2017 respectively. During 2017, Hackett recorded $750,000 in property tax expense on its income statement. Cash outflows for property tax during 2017 were ________
A) $715,000
B) $750,000
C) $785,000
D) $640,000
Answer: A
Business
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