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Four Star Video has been in the video rental business for five years. The following is a list of accounts for Four Star Video at May 31, 2017. It reflects the recurring transactions for the month of May but does not reflect any month-end adjustments.
Cash $4,000
Prepaid Rent 6,600
Video Inventory 25,600
Display Stands 8,900
Accumulated Depreciation 5,180
Accounts Payable 3,260
Customer Subscriptions 4,450
Capital Stock 5,000
Retained Earnings 22,170
Rental Revenue 9,200
Wage and Salary Expense 2,320
Utilities Expense 1,240
Advertising Expense 600
Question 1: What are the Four Star accrues income taxes using an estimated tax rate equal to 30% of the income for the month.
Question 2: What is the income tax?
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