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Business, 12.08.2019 17:10 ladybugys

Fitzgerald corp. reports pretax accounting income of $210,000, but because of a single temporary difference, taxable income is only $155,000. at the beginning of the year, no temporary differences existed. fitzgerald is subject to a tax rate of 40%. prepare the appropriate journal entry to record the company’s income tax expense for the year. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

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