Which of the following would not normally be accrued as a current liability at year end? (a) Interest on a note payable due but not yet paid. (b) Vacation pay earned but not used. (c) A loss that is possible and measurable. (d) State and federal unemployment taxes on wages earned but not yet 16. paid. 17. A company reports total sales, including sales taxes, of s3,500,000. If the sales tax rate is 7%, how much of the sales amount represents sales tax payable? (a) 233,667. (b) 228,972 (c) 245,000. (d) S3,255,000. A company estimated that its property tax expense for the calendar year would be $26,000. It accrued the appropriate expense and liability amounts each month for six months. On July 1, the company received the actual property tax bill which indicated that its property taxes for the year would be $25,000. What entry should be made on July 1 to adjust the balances in the accounts based upon the actual property tax bill? (a) Property Tax Expense 18. 500 500 2,083 500 500 2,083 Property Tax Liability Property Tax Liability (b) (c) (d) Property Tax Expense Property Tax Expense Property Tax Liability No entry is required because the expense and liability accounts are properly stated