A company reports 2024 pretax accounting income of $22 million, but because of a single temporary difference, taxable income is only $13 million. No temporary differences existed at the beginning of the year, and the tax rate is 25%.

Prepare the appropriate journal entry to record income taxes.

Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50),

A company reports 2024 pretax accounting income of $22 million, but because of a single temporary difference, taxable income is only $13 million. No temporary differences existed at the beginning of the year, and the tax rate is 25% Prepare the appropriate joumal entry to record income taxes. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5,50) Brief Exercise 16-1 (Algo) Temporary difference [LO16-1, 16-2] A company reports 2024 pretax accounting income of $22 million, but because of a single temporary difference, taxable income is only $13 million. No temporary differences existed at the beginning of the year, and the tax rate is 25% Prepare the appropriate journal entry to record income taxes. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50). Journal entry worksheet Note: Eiter Gebuts before credits