Pharoah Company receives its annual property tax bill of $23,520 for the 2021 calendar year on May 31, 2021, and it is payable on July 31, 2021. Pharoah has a December 31 fiscal year end. Your answer is partially correct Prepare the journal entries for Pharoah on May 31, July 31, and December 31, 2021, assuming that the company makes monthly adjusting entries. (Assume property tax expense in 2020 was $2.235 per month.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation May 31 Property Tax Expense May 31 Property Tax Payable (To accrue property tax expense.) Property Tax Payable Debit Credit 1960 265 196