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Roberts Corp. reports pretax accounting income of $200,000, but due to a single temporary difference, taxable income is only $150,000. At the beginning of the
Roberts Corp. reports pretax accounting income of $200,000, but due to a single temporary difference, taxable income is only $150,000. At the beginning of the year no temporary differences existed. Roberts is subject to a tax rate of 30%. Prepare the journal entry to record Roberts Corps's income taxes.
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