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In 2022, MeadowView Farms reported a pretax operating loss of $10 million for financial and tax reporting purposes. The tax rate was 30% in 2022

In 2022, MeadowView Farms reported a pretax operating loss of $10 million for financial and tax reporting purposes. The tax rate was 30% in 2022 but during 2022 the rate was changed to 20% for 2023 and beyond. Prepare MeadowViews 2022 journal entry for income taxes.

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