Oriole Company has a December 31 fiscal year end. It receives a $10,320 property tax bill for the 2021 calendar year on March 31, 2021. The bill is payable on June 30. Prepare entries for March 31, June 30, and December 31, assuming the company adjusts its accounts annually.

Probler Date Account Titles and Explanation Debit Credit Mar 31 Property Tax Expense Property Tax Payable (To accrue property tax expense.) June 30 Property Tax Payable Property Tax Expense Prepaid Property Taxes Il lago Cash (To pay property tax owing and in advance.) Dec. 31 Property Tax Expense Prepaid Property Taxes (To record property tax expense.)