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E 21-10 Summary entries for cash paid for income taxes For each of the five independent situations below, prepare a single journal entry that
E 21-10 Summary entries for cash paid for income taxes For each of the five independent situations below, prepare a single journal entry that summarizes the recording and payment of income taxes in order to determine the amount of cash paid for income taxes and explain the change (if any) in each of the accounts shown. All dollars are in millions. aia 785-5261 e for Cub Cadet N Luella Ave ing Ok 14023 Situation Income Tax Interest Tax Payable Expense Increase (Decrease) Deferred Tax Liability Increase (Decrease) Cash Paid for Taxes 1 10 0 0 2 10 3 0 3 10 0 (2) 4 10 3 2 5 10 (3) (2)
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