Prepare all the appropriate journal entries for the year (that is, for April 1, June 30 and December 31, 2020). (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.)

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter9: Current Liabilities And Contingent Obligations
Section: Chapter Questions
Problem 3RE: Cee Co.s fiscal year begins April 1. At the beginning of its fiscal year, Cee Co. estimates that...
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On April 1, 2020, Sheridan Industries receives its annual property tax bill in the amount of $7,320 relating to its annual property taxes
for the year ending December 31, 2020. The bill is to be paid by June 30, 2020 and the company's year-end is December 31, 2020.
Prepare all the appropriate journal entries for the year (that is, for April 1, June 30 and December 31, 2020). (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.)
Date
June 30
Account Titles and Explanation
Debit
Credit
Transcribed Image Text:On April 1, 2020, Sheridan Industries receives its annual property tax bill in the amount of $7,320 relating to its annual property taxes for the year ending December 31, 2020. The bill is to be paid by June 30, 2020 and the company's year-end is December 31, 2020. Prepare all the appropriate journal entries for the year (that is, for April 1, June 30 and December 31, 2020). (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.) Date June 30 Account Titles and Explanation Debit Credit
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