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Pharoah Industries has been making quarterly tax instalment payments at the start of each quarter in the amount of $4,700 per quarter throughout the year

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Pharoah Industries has been making quarterly tax instalment payments at the start of each quarter in the amount of $4,700 per quarter throughout the year based on the previous year's income tax. At the end of the year, Pharoah determined that the total current year's income tax obligation was $22,200. Determine the account and the amount to report in the current liabilities section of Pharoah's year-end statement of financial position assuming the above details. $ Question Part Score Determine the account and the amount to report in the current assets section of Pharoah's year-end statement of financial position assuming the quarterly instalment payments were $5,800 per quarter

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