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Record the income tax journal entry on December

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Question - Land Rover Inc. reported pretax GAAP income of $71,200 in 2020. The GAAP basis of accounts receivable (net) is $4,800less than the tax basis of accounts receivable. Assuming a tax rate of 25%, record the income tax journal entry on December 31, 2020. Assume zero beginning balances in deferred tax accounts.

Reference no: EM133168063

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