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the company revalued plant at the beginning of the year from $480,000 to $650,000. The plant is being depreciated at 10% per year for accounting

the company revalued plant at the beginning of the year from $480,000 to $650,000. The plant is being depreciated at 10% per year for accounting purposes and 5% per year for tax purposes. The company tax rate is 30%. Prepare the end-of-period adjustment journal entries for the deferred tax account in relation to the above situation

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