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Welby Auto Sales operates on a large property just outside of Red Deer, Alberta. During the year, the following activity surrounding their property tax bill
Welby Auto Sales operates on a large property just outside of Red Deer, Alberta. During the year, the following activity surrounding their property tax bill occurred: February 28, Received notification that property tax assessment was $6,000. May 15, Received an annual property tax bill for $6,000. May 31, Recorded the property tax expense to date. June 30, Paid the property tax bill in full. Given these activities, what would be the balance in the Property Tax Payable account on June 1? Select answer from the options below $0 $6,000 $3,000 $2,500
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