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Calculate the prepaid or property taxes payable

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Reference no: EM132615816

Question - Blue Properties Co. paid $6,000 for property taxes in year 2018 calendar year. In 2019, Blue receives its property tax bill on May 1 for $7,200 which is payable on June 30, 2019.

Instructions - Calculate the prepaid or property taxes payable that Blue will report on its balance sheet if Blue Properties Co. year end is

a) February 28, 2019

b) May 31, 2019

c) September 30, 2019

d) December 31, 2019

Reference no: EM132615816

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