Graham corporation uses the accounting absis for financial reporting is permitted to use the cash basis for tax purposes. During year Graham sold $ in merchandise to a major customer under a three year deferred payment plan. Collection are schedule as follows: Year Year and year In addition to the deferred payment plan graham report cash sales for year of year of year of and year of tax rate is Compute income tax payable, the deferred tax provision and the cumulative balance of the deferred tax account for years through Prepare the Journal entires necessary to record the tax provision in years Assume that the income tax rate is reduced to effective Jan of Year prepare the journal entries requires in Years and only to record the tax rate change adjustment and the regular tax provision. What is the effective Actual tax rate in year Prepare the footnote reconcilation to reconcile the Federal Tax Rate to the Effective Actual Tax Rate in both dollars and percentages in Year