Vaughn Corporation operates on a calendar year basis. The company is in its first year of operations and received its annual property tax bill on March 31 for $23100. The bill is due May 1. Even though the company records adjusting entries on a monthly basis, no entries related to property taxes have been recorded. Assuming appropriate adjusting entries were completed for the April month end, what entry should be recorded for the payment on May 12 Debits to prepaid property tax and property tax expense for $15400 and $7700, respectively and credit to cash for $23100 Debit property tax payable $17325 and credit to cash $17325 Debits to prepaid property tax and property tax payable for $15400 and $7700, respectively and credit to cash $23100 Debit prepaid property tax $23100 and credit canh $23100