You started a job at a start-up company right after graduation as the company's only accountant. The company started operations on July 1. Property taxes are one of the costs that the company incurs. You learn that the county where the company has its physical property levies taxes each May and November, with payment due 30 days after the levy. The real estate agent provided you with information on what last year's tax payments were. You need to decide when and how much to record for property taxes. This being your first job, you need to research this issue. Provide the guidance to determine when the property tax should be recognized on the company's books the how you should determine the amount to record.