The accountant for Meilleur Merchants Inc. is completing the last few adjusting journal entries for the fiscal year ended December 31, 2021. Some items remain outstanding and a few calculations need to be made before the financial statements can be prepared. Meilleur Merchants prepares an all-inclusive statement of comprehensive income. The following is a partial list of the general ledger account balances.

Cash Dividends - Preferred		$1,600
Interest expense		2,120
Cost of goods sold		234,500
Retained earnings Jan. 1		199,000
Cash Dividends - Common		4,500
Rent revenue		1,800
Sales		396,200
Interest revenue		940
Operating expenses		58,970

Additional information:

1.		Meilleurs income tax rate is 30%.
2.		During the year, Meilleur disposed of its financing division, which was not worth continuing. Prior to the sale, the division operated at a loss before tax of $14,000. The loss on the sale of the division was $24,000 before taxes.
3.		Meilleurs accountant found an error in the amount used to record salaries expense for the year ending December 31, 2020. The expense had been overstated by $4,200.

Prepare the journal entry for the income tax expense for the year. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31	Income Tax PayableIncome Tax ExpenseNo EntryAccounts ReceivableCash
	CashNo EntryAccounts ReceivableIncome Tax ExpenseIncome Tax Payable

Prepare an adjusting journal entry for the correction of the error. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31	Income Taxes PayableRetained EarningsCashSalaries PayableNo Entry
	Salaries PayableIncome Taxes PayableNo EntryRetained EarningsCash
	No EntrySalaries PayableRetained EarningsCashIncome Taxes Payable

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