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Can someone help me journalize this entry: A corporation must make an adjusting entry to accrue income tax expense on Income Before Income Tax at
Can someone help me journalize this entry:
A corporation must make an adjusting entry to accrue income tax expense on Income Before Income Tax at a rate of 36%. The taxes will not be paid until March of next year.
I have a trial balance provided to me. My question is what do I have to do to make this journal entry, and what account(s) do I have to apply the 36% interest rate on to get the answer?
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