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Madhu Corp. receives rent in advance of $100,000 in 2015. The timing difference is expected to reverse $40,000 in 2017 and $60,000 in 2018, The
Madhu Corp. receives rent in advance of $100,000 in 2015. The timing difference is expected to reverse $40,000 in 2017 and $60,000 in 2018, The enacted tax rates are 30% in 2015 and 2016. At the end of 2016, the balance in the deferred tax asset account is $30.000. In 2016, the tax r is 40%, which of the following entries would be included in the journal entry to adjust the deferred tax account at 31, 2016? $10,000 oK
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