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Corporation A had service revenue of $785000, operating expenses of $397000, and interest expense of $29100 for the year ended December 31, 2024. The
Corporation A had service revenue of $785000, operating expenses of $397000, and interest expense of $29100 for the year ended December 31, 2024. The company has a 30% income tax rate. Assuming Corporation A has made no instalments, the company should record income taxes by debiting Income Tax Expense for $235500. debiting Income Tax Expense for $107670. debiting Income Tax Expense for $116400. debiting Income Tax Expense for $222405.
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