at the end of 2020 the first year of operations, planter co prepared the following reconciliation between accounting income and taxable income:

accounting income : $200,000 permanent difference: $50,000 temporary difference $ (100,000) taxable income $ 150,000

the tax rate is 20% for 2020 and in dec 2020 a new tax of 30% was enacted for years starting 2021.

what amount would be recorded for difference tax expense for 2020?

en Time leit 1:24-50 Marked out of 1.00 At the end of 2020, its first year of operations, Planter Co. prepared the following reconciliation between accounting income and taxable income. Accounting income $ 200,000 P Flag question Permanent difference 50,000 Temporary difference (100,000) Taxable income $ 150,000 The income tax rate is 20% for 2020 and in December 2020 a new tax of 30% was enacted for years starting 2021. Required: What amount would be recorded for deferred tax expense for 2020? Select one: O a. DEBIT Income tax expense $20,000 O b. CREDIT Income tax expense$20,000 O c. DEBIT Income tax expense $30,000 O d. CREDIT Income tax expense $30,000 no