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Watson Company pays approximately $30,000 in property taxes per year. The bills for the current year are received in September and are paid in December.

Watson Company pays approximately $30,000 in property taxes per year. The bills for the current year are received in September and are paid in December. Watson chooses to accrue property tax expense each month throughout the year. After all the bills are received at the end of September, what would be a good estimate for the balance in the accrual account?

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