Gothic Architects Inc B) Please See the Following Information C) Please See the Following Information

question 121

Multiple Choice

Gothic Architects Inc. received its annual property tax bill for $7,800 in January. It is due on February 28th. What is the journal entry that should be made in January?

• A) Please see the following information: \[\begin{array} { | l | r | r | }
• \hline \text { Property Tax Expense } & 650 & \\
• \hline \text { Prepaid Property Tax } & 7,150 & \\
• \hline \text { Property Tax Payable } & & 7,800 \\
• \hline
• \end{array}\]
• B) Please see the following information: \[\begin{array} { | c | r | r | }
• \hline \text { Property Tax Expense } & 7,800 & \\
• \hline \text { Property Tax Payable } & & 7,800 \\
• \hline
• \end{array}\]
• C) Please see the following information: \[\begin{array} { | l | r | r | }
• \hline \text { Prepaid Property Tax } & 7,800 & \\
• \hline \text { Property Tax Payable } & & 7,800 \\
• \hline
• \end{array}\]
• D) Please see the following information: \[\begin{array} { | l | r | r | }
• \hline \text { Property Tax Expense } & 650 & \\
• \hline \text { Property Tax Payable } & & 650 \\
• \hline
• \end{array}\]

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