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Regenbogen Corp.'s business year is aligned with the calendar year. They are assessed for property taxes on a calendar-year basis. On February 28, the company
Regenbogen Corp.'s business year is aligned with the calendar year. They are assessed for property taxes on a calendar-year basis. On February 28, the company received its property tax invoice, which amounted to $18000 for that calendar year. The assessed amount is due on May 31. Record the journal entries for Regenbogen Corp. the following dates: (a) February 28, (b) May 31, (c) December 31, assuming that no other adjustments have been made throughout the year. $$$ 28-Feb Blank 1 Blank 2 $$$ 30-Apr Property tax expense Blank 3 Blank 4 Blank 5 $$$ $$$ $$$ $$$ Blank 7 31-Dec Blank 6 Blank 8 Blank 7 Blank #1 Blank # 2 Blank #3 Blank #4 Blank # 5 Blank # 6 Blank #7 Blank # 8
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