Pierce Corp. has a December 31 year end. It received its property tax assessment of $24,000 on

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Pierce Corp. has a December 31 year end. It received its property tax assessment of $24,000 on April 30 for the calendar year. The property tax bill is payable on July 15. Prepare the journal entries to record the property tax on
(a) April 30,
(b) July 15,
(c) December 31, assuming the company adjusts its accounts annually.
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Financial Accounting Tools for Business Decision Making

ISBN: 978-1118024492

5th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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