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Homework answers / question archive / Blue Properties Co
Blue Properties Co. paid $6,000 for property taxes in year 2018 calendar year. In 2019, Blue receives its property tax bill on May 1 for $7,200 which is payable on June 30, 2019.
Instructions
Calculate the prepaid or property taxes payable that Blue will report on its balance sheet if Blue Properties Co. year end is
a) February 28, 2019
b) May 31, 2019
c) September 30, 2019
d) December 31, 2019
