Roth Inc. has a deferred tax liability of $68,000 at the beginning of 2021. At the end

Question:

Roth Inc. has a deferred tax liability of $68,000 at the beginning of 2021. At the end of 2021, it reports accounts receivable on the books at $90,000 and the tax basis at zero (its only temporary difference). If the enacted tax rate is 17% for all periods, and income taxes payable for the period is $230,000, determine the amount of total income tax expense to report for 2021.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...

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