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4. Foltz Corp. had pretax financial income of $500,000 in each of its first five years of operations. Foltz uses an accelerated cost recovery method
4. Foltz Corp. had pretax financial income of $500,000 in each of its first five years of operations. Foltz uses an accelerated cost recovery method on its tax return and straight- line depreciation for financial reporting. The differences between the book and tax deductions for depreciation over the five-year life of the assets acquired in 2021, and the enacted tax rates for 2021 to 2025 are as follow There are no other temporary differences. Record the tax related journal entries the years 2021-2024 2021: 2022: 2023: 2024
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