eBook Show Me How mentsessionLocator Binprogress-false Adjusting Entries for Prepaid and Accrued Taxes A-Z. Construction Company was organized on May 1 of the current year. On May 2, A-Z Construction prepaid $18.400 to the city for taxes (canse fee for the next 12 months and the account. A-Z Construction is also required to pay in January an annual tax (on property) for the current calendar year of $45,000 a. Journalize the two adjusting entres required to bring the accounts affected by the two taxes up to date w of December 31, the end of the urnent year it an amount box does not i blank Dec. 31 Taxes Expense Prepaid Taxes Dec. 31 The My Determine the amount of prepaid ofy sense that wit espre each month. The expense the expired amount that will con May 2 to December 31 Con your bat wat o income statement account and one balance sheet accou The property tax reques noming an expense account Compele your adjusting entry by making sure that it acts done conexetere acc and ene b. What is the amount of tax expense for the current year? Feedback