none Maried out of 10 Recording Income Tax Expense Aleca in purchased equipment in 2018 for 570,000 with no residual value on December 31, 2020, accumulated depreciation using the the method for reporting was $21,000. For tax purposes, Alexauses MACRS depreciation resulting in 549,840 in accumulated depreciation for tax purposes on December 2000 income was $140,000 for 2020 and the company's tax rate is 25 Determine the GAAP basis of equipment (net) on December 30, 2020, Foment de GAAP 70,000 b. Determine the tax basis of equipment on December 30, 2020, fumante taha 1000 Assuming a deferred tax liability balance of 56,860 on December 31, 2019, record income tax expense for 2020. Note: List multiple debits (when applicable) in alphabetical order and list multiple credits when applicabile in alphabetical order Account Nam Dec 11, 2020 Deferred Tax Asset . Deferred Tax Asset 3 Valuabon Allowance for Deferred Tax Asset Support Date OK 0 Check