Question: Cee Co s fiscal year begins April 1 At the
Cee & Co.’s fiscal year begins April 1. At the beginning of its fiscal year, Cee & Co. estimates that it will owe $17,400 in property taxes for the year. On June 1, its property' taxes are assessed at $17,000, which it pays immediately'. Prepare the related journal entries for April 1, May 1, and June 1. Then compute the monthly' property' tax expense that Cee & Co. would record during July through March.
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