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Required a. Record the income tax journal entry on December 31. - Note: If a line in a journal entry isn't required for the transaction,
Required a. Record the income tax journal entry on December 31. - Note: If a line in a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero). b. Assume that there was a January 1 beginning balance of $4,000 in the deferred tax asset account. How would your answer to part a change? - Note: If a line in a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero). Cash Income Tax Receivable Deferred Tax Asset Valuation Allowance for Deferred Tax Asset Income Tax Payable Liability for Unrecognized Tax Benefits Deferred Tax Liability Income Tax Expense Note: N/A Required a. Record the income tax journal entry on December 31. - Note: If a line in a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero). b. Assume that there was a January 1 beginning balance of $4,000 in the deferred tax asset account. How would your answer to part a change? - Note: If a line in a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero). Cash Income Tax Receivable Deferred Tax Asset Valuation Allowance for Deferred Tax Asset Income Tax Payable Liability for Unrecognized Tax Benefits Deferred Tax Liability Income Tax Expense Note: N/A
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