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Prepare adjusting journal entries required to record taxes

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Reference no: EM132513397

Question - Given the following information

Actual Tax Payable/ Expense 79,425

Tax Payable based on Accounting Income 89,100

Temporary Difference: (9,675)

Deferred Tax Asset 1,575

Deferred Tax Liability 11.250

Prepare the adjusting journal entries required to record income taxes for 2019.

Reference no: EM132513397

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