Cather Corporation has made and recorded its quarterly income tax payments. After a final review of taxes
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Cather Corporation has made and recorded its quarterly income tax payments. After a final review of taxes for the year, the company identifies an additional $30,000 of income tax expense that should be recorded. A portion of this additional expense, $8,000, is deferred for payment in future years.
Record Cather’s year-end adjusting entry for income tax expense. lpiu7
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