Calculate music actual profit for the year

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Reference no: EM133000819

Assuming that actual tax for the year 2020 was determined to be $652,000, prepare the appropriate adjusting entry at year-end to bring the balance in the Income Tax Expense account to the correct balance, assuming no accrual has yet been recorded for the fourth quarter.

Problem 1: Calculate Music's actual profit for the year 2020.

Reference no: EM133000819

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