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Estimating the property tax

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Reference no: EM13144758

In the year 2007, the company is estimating its property tax to be $3,600 for the year.

(a) How much should the company accrue each month for property taxes?

(b) What is the amount that the Property Tax Accrual account will have at the end of July 2007?

(c) Prepare the adjusting journal entry for the month of October 2007.

Reference no: EM13144758

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