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Fill in blanks please Brief Exercise 8-42 (Algorithmic) Accrued Income Taxes Nolan Inc. had taxable income of $525,000 in 2019. Its effective tax rate is

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Brief Exercise 8-42 (Algorithmic) Accrued Income Taxes Nolan Inc. had taxable income of $525,000 in 2019. Its effective tax rate is 22%. Nolan pays its 2019 income taxes on April 15, 2020. Required: 1. Given this information, determine the adjusting journal entry that Nolan must make on December 31, 2019. Dec. 31 Income Taxes Expense Income Taxes Payable (Record accrued income taxes) Feedback

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