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Pierce Corp. has a December 31 year end. It received its property tax invoice of $36,000 for the calendar year on April 30. Th e
Pierce Corp. has a December 31 year end. It received its property tax invoice of $36,000 for the calendar year on April 30. Th e invoice is payable on July 15. Prepare the journal entries to record the property tax on (a) April 30, (b) July 15, and (c) December 31, assuming the company adjusts its accounts annually
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