Walters Accounting Company receives its annual property tax bill for the calendar year on May 1, 2018. The bill is for $ 32,000 and is payable on June 30, 2018. Walters paid the bill on June 30, 2018. The company prepares quarterly financial statements and had initially estimated that its 2018 property taxes would be $ 30,000. Required: Prepare all the required journal entries for 2018 related to the property taxes, including quarterly accruals.