QUESTION 15 Grimes Inc. has taxable income in 2020 of $15,000 and pre-tax book income of $20,000. There is a temporary difference of $5,000 that was caused by depreciation for equipment purchased for $60,000 in 2020. The equipment has a financial reporting book value at the end of 2020 of $50,000. The equipment has a tax basis at the end of 2020 of $45,000. The tax rate is 35%. Write the journal entry to record taxes for 2020. Begin each line with Dr. or Cr. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). TTT Arial 3 (12pt) T- - E - S oco Path:p Words:0