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Grien Toy Company uses an accoptable tax method that provided a $18,000 tax deduction for the current year. Bock income and taxable income before considering

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Grien Toy Company uses an accoptable tax method that provided a $18,000 tax deduction for the current year. Bock income and taxable income before considering this tax deduction are equal to $220,000 (.e., there are no book-tax differences). Griffin is subject to a 35% income tax rale. Tax authorities have chalenged this type of tax deduction in the post, and Griffin is now concerned about the realizability of this tax deduction in the future. However, management believes that it is more likely than not that the firm will sustain the tax benefits upon examina6ion by tax authorities. Griffin provides the following analysis regarding the probabilites of sustaining the tax deduction: (Cick the icon to viow the analysis.) Prepare the joumal entry required to record the tax provision for the current year assuming that Gritin is subject to a 35\% tax rate, (Rocord debits first, then credits. Exctude explanations from any joumal entres.)

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