On May.1, Ace Bonding Company purchased inventory costing $2,000 on account. If credit terms are 2/10, using a n30 and Ace pays for this inventory on May 30 which of the following records the payment perpetual inventory system Accounts Payable 2,00 Cash 2,000 B Accounts Payable 1.96 Inventory 40 Cash 2,000 Accounts Payable 2,00 40 Inventory Cash 1,96 Cash 2,000 Accounts Payable 2,00

Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."