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Heinfell Inc. reported sales of $850,000, cost of goods sold of $510,000, and other expenses totalled $180,000. Assuming Heinfell reported net income of $100,000 in
Heinfell Inc. reported sales of $850,000, cost of goods sold of $510,000, and other expenses totalled $180,000. Assuming Heinfell reported net income of $100,000 in the year, which of the following entries reflects Heinfell's income tax expense? O debit to Income Tax Expense and credit to Income Tax Payable for $100,000 O debit to Income Tax Payable and credit to Income Tax Expense for $100,000 O debit to Income Tax Expense and credit to Income Tax Payable for $60,000 O debit to Income Tax Payable and credit to Income Tax Expense for $60,000
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