Hodor Accounting Company receives its annual property tax bill for the calendar year on May...
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Accounting
Hodor Accounting Company receives its annual property tax bill for the calendar year on May 1, 2022. The bill is for $32,000 and payable on June 30, 2022. Hodor paid the bill on June 30, 2022. The company prepares quarterly financial statements and had initially estimated that its 2022 property taxes would be $30,000. Instructions (8 marks) Prepare the March and June journal entries for 2022 related to the property tax quarterly accruals and payment. (Note: extra lines may exist: the lines available do not necessarily correlate to the number of entries required) Debit Credit
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