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At the beginning of 2020, Carter Corporation had a Deferred Tax Asset account with a beginning balance of $23,000. This was due to $115,000 of

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At the beginning of 2020, Carter Corporation had a Deferred Tax Asset account with a beginning balance of $23,000. This was due to $115,000 of temporary differences that will result in future deductible amounts. At the end of 2020 Carter Corporation had $155,000 of future deductible amounts There are no other difference between taxable income and pretax financial income. Carter's Pretax Financial Income is $300,000, The enacted tax rate for 2020 and all future years is 20% Taxable income is expected in all future years. Prepare the Income Tax Journal Entry for 2020

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