Estimated property taxes of $5,200 were assessed on July 1, 2011, for the 12-month period to end on June 30, 2012. The first payment of the first half year tax is due on March 1, 2012. As of December 31, 2011, no payments have been made on this assessment although the half-year estimate is owed, even though not due until March 1st. You need to accrue six months of property taxes ($2,600) as of December 31, 2011. Make the following general journal entry: