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Assume that Mike's income tax rate is 30% and that income taxes and accounting for last year were done correctly. Mike has not set up

Assume that Mike's income tax rate is 30% and that income taxes and accounting for last year were done correctly. Mike has not set up any journal entry yet to record his taxes.

 

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1) There are several instances where the transactions were not correctly recorded in the books. You need to determine the appropriate adjusting entries.

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