Pinto Construction Company was organized on May 1 of the current year. On May 2, Pinetop Construction prepaid $33,000 to the city for taxes (license fees) for the next 12 months and debited the prepaid taxes account. Pinetop Construction is also required to pay an annual property tax in January of $24,800 for the current calendar year. a. Journalize the two adjusting entries required to bring the accounts affected by the two taxes up to date as of December 31, the end of the current year