Question

George corporation recognized $1,000 of accrued property taxes on its manufacturing facility. the journal entry to record this debits ______.

Answer 1

In a case whereby George corporation recognized $1,000 of accrued property taxes on its manufacturing facility. the journal entry to record this debits as Manufacturing overhead $1,000 and credits Property taxes payable $1,000.

What is journal entry?

A journal entry  can be described as an act of keeping which involves the  making records of any transactions .

It should be noted that Transactions are listed in an accounting journal so that the  company's debit as well as the credit balances of the company can be shown.

In the case, above , we will record this debits as Manufacturing overhead $1,000 and credits Property taxes payable $1,000, hence  journal entry can encompass several recordings, in a debit or a credit.

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