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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

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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. All dollars are in millions Answer is not complete. Complete this question by entering your answers in the tabs below. Cash Paid for Taxes General Journal Calculate the amount of cash paid for income taxes for each situation, (Enter your answers in millions (1,0 10,000,000 should be entered as 10).) Situation Income Tax Income Tax Payable Deferred Tax Liability Cash Paid Expense Increase (Decrease Increase (Decreaso) for Taxos 1 10 0 0 10 2 10 3 0 7 10 (2) 12 10 3 2 50 10 (3) (2) 15 0 4 5 > 10 Income tax expense Cash 10 > 10 Income tax expense Income tax payable Cash OOO 10 10 X 3 10 Income tax expense Deferred income tax liability Cash N 20 o 15 Income tax expense Income tax payable Deferred income tax lability Cash OOOOOO 5 5 TO Income tax expense Income tax payable Deferred income tax ability

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