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Shamrock Inc. has two temporary differences at the end of 2019. The first difference stems from instaliment sales, and the second one results from the

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Shamrock Inc. has two temporary differences at the end of 2019. The first difference stems from instaliment sales, and the second one results from the accrual of a loss contingency. Shamrock's accounting department has developed a schedule of future taxable and deductible amounts related to these temporary differences as follows. As of the beginning of 2019, the enacted tax rate is 34% for 2019 and 2020. and 2086 for 2021-2024. At the beginning of 2019, the company had no deferred income taxes on its balance sheet. Taxable income for 2019 is $543,000. Taxable income is expected in atil future years, (a) Prepare the foumal entry to record income tax expense, defered income taxes, and income taxes payable for 2019. (Credit account tities are automotically indented when amount is entered. Do not indent manvally. If no entry is required, select "No Entry" for the occount tities and enter O for the amounts)

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