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Sunland Company receives its annual property tax bill of $20,400 for the 2024 calendar year...

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Accounting

Sunland Company receives its annual property tax bill of $20,400 for the 2024 calendar year on May 31, 2024, and it is payable on July 31, 2024. Sunland has a December 31 fiscal year end. (a) Prepare the journal entries for Sunland on May 31, July 31, and December 31, 2024, assuming that the company makes monthly adjusting entries. (Assume property tax expense in 2023 was $2,200 per month.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.)

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