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Dat e 2022 Chesher's Company has to decide how to handle the issue of Property Taxes, when Chesher has not even received the bill
Dat e 2022 Chesher's Company has to decide how to handle the issue of Property Taxes, when Chesher has not even received the bill from the municipality yet. Chesher receives her property tax bill of $21,500 on March 1 and it is due to be paid on April 30. Last years tax bill was for $19,000. What are the journal entries for the dates listed on the joumal paper below General Journal Particulars PR Debits Page 45 Credits Jan 31 Property Tax Expense Property Tax Payable Feb 28 29 h Marc 31 Property Tax Expense Property Tax Payable Property Tax Expense Property Tax Payable April 30 Property Tax Expense Property Tax Payable Prepaid Property Tax Cash 21,500
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