Carter inc. has a January 31, 1992, year-end and the company records adjusting entries on a quarterly basis at the end of each fiscal quarter and does not use reversing entries. The local municipality charges property taxes on a calendar year basis but it does not send out the property tax assessment for each year until early May of the year that relates to the property tax. Therefore, the property tax assessment for 1991 is not payable until May 1991 (after the company released the April 30, 1991, quarterly financial statements). This requires the company to accrue an estimate for property taxes in the quarter ending April 30, 1991. This estimate is based on the prior years property taxes, which for 1990 amounted to $12,000 for that calendar year. On January 31, 1991 the company had a property tax payable balance of $1,000. However, the property taxes for 1991 (based on the assessment received in May of that year) showed that property taxes for 1991 were $20,000. The company paid this full amount to the municipality on May 31 by debiting property tax expense and crediting cash for $20,000. The company recorded no other transactions in the fiscal year ending January 31, 1992. Provide the adjusting journal entry that the company should have recorded on April 30, 1991, for the first quarter end. Also provide an adjusting entry that the company should record at the end of its second fiscal quarter on July 30, 1991