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Crandall Corp wos formed in 20X1. The compony uses the comprehensive tox allocation method. Relevant information pertaining to 201,202, and 203 is as follows: Pension

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Crandall Corp wos formed in 20X1. The compony uses the comprehensive tox allocation method. Relevant information pertaining to 201,202, and 203 is as follows: "Pension amounts ore tox deductible when poid, not when expensed Over the long term, poyments will equal total expense. The tox basis for the pension will olways be zero. For occounting purposes, there wil be o stotement of financial position asset occount asset colled "deferred pension cost" for the difference between the amount poid and the expense, since the amount poid is higher. Required: Prepore the joumal entry to record income tox expense for each year. (f) no entry is requited for a transactlon/event, select "No joumal entry required" in the first account field.) Journal entry worksheet Mecord income tax expense for the year 201 Nate: freer debts betare crech

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