George's Pizza received its annual property tax bill for $21,500 January 2. It was paid when due on June 30. Killarney Exhibits has a December 31year end. The July 31 adjusted balances should be

$8,958.33 for Prepaid Property Tax; $12,541.67 for Property Tax expenseable.

$10,750 for Prepaid Property Tax; $10,750 for Property Tax Payable.

$8,959.33 for Prepaid Property Tax; $12,541.67 for Property Tax Payable

$10,750 for Prepaid Property Tax; $10,750 for Property Tax Expense.