Millennium financial services was organized on april 1 of

Reference no: EM13593666

Millennium financial services was organized on April 1 of the current year. On April 2, Millenium prepaid $1,020 to the city for taxes for the previous calender year. The estimated amount of the property tax for the current year is $10,210.

A) Journalize the two adjusting entries required to bring the accounts affected by the two taxes up to date as of December 31, the end of the current year.

B) What is the amount of tax expense for the current year?

Reference no: EM13593666

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