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    watsonb's Avatar
    watsonb Posts: 1, Reputation: 1
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    #1

    Sep 14, 2010, 10:22 AM
    I need the journal entry to the 2 parts of this question
    On July 1 of the current year, a business pays $54,000 to the city for license taxes for the coming fiscal year. The same business is also required to pay an annual property tax at the end of the year. The estimated amount of the current year's property tax allocable to July is $4,800. (1) Journalize the two adjusting entries required to bring the accounts affected by the taxes up to date as of July 31. (2) What is the amount of tax expense for July?
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Sep 14, 2010, 04:16 PM

    Please see the guidelines for posting homework:
    https://www.askmehelpdesk.com/financ...-b-u-font.html
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