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Complete this question by entering your answers in the tabs below. What portion of the tax benefit of tax-free interest will Tru recognize on its
Complete this question by entering your answers in the tabs below. What portion of the tax benefit of tax-free interest will Tru recognize on its 2021 tax return and financial statements? What portion of the tax on the $50 million income from the plots sold on an installment basis will Tru defer on its 2021 tax return and deferred tax asset or liability in its 2021 financial statements? (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Show less Complete this question by entering your answers in the tabs below. Prepare the journal entry to record income taxes in 2021, assuming the recognition of the tax benefits in the financial statements you indicated in requirements 1-3. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Complete this question by entering your answers in the tabs below. What portion of the tax benefit of tax-free interest will Tru recognize on its 2021 tax return and financial statements? What portion of the tax on the $50 million income from the plots sold on an installment basis will Tru defer on its 2021 tax return and deferred tax asset or liability in its 2021 financial statements? (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Show less Complete this question by entering your answers in the tabs below. Prepare the journal entry to record income taxes in 2021, assuming the recognition of the tax benefits in the financial statements you indicated in requirements 1-3. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
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