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Business, 16.12.2019 18:31 lizdominguez101

Acorporation has a $40,000 credit balance in the income tax payable account. period end information shows that the actual liability is $47,000. the company should record an entry to debit income tax expense for $7,000 and credit income taxes payable for $7,000.

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Acorporation has a $40,000 credit balance in the income tax payable account. period end information...
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