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It has been determined that $4,000 property taxes paid in 2016 were applicable to 2015, not 2016. The income tax rate applicable to 2015 was

It has been determined that $4,000 property taxes paid in 2016 were applicable to 2015, not 2016. The income tax rate applicable to 2015 was 30%. Hint: This is a prior period adjustment that will be separately recorded and later closed to retained earnings.

What are the adjusting Entries?

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