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A company has a tax liability brought forward of OMR 16,000. The liability is finally agreed at OMR 17,500 and this is paid during the

A company has a tax liability brought forward of OMR 16,000. The liability is finally agreed at OMR 17,500 and this is paid during the year. The company estimates that the tax liability based on the current year's profits will be 0MR 25,000. At the time of preparation of financial statements company makes the provision for tax payable in the financial statements. Pass the journal entry

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