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Tom - Kat Inc.'s income before taxes is $300,000 and its tax rate is 20%. Tom - kat included $50,000 of interest from municipal bonds
Tom - Kat Inc.'s income before taxes is $300,000 and its tax rate is 20%. Tom - kat included $50,000 of interest from municipal bonds in the $300,000. There are no other book - tax differences. What is the journal entry to record income tax expense? 60,000 O A. Income Tax Expense Income Tax Payable 60,000 OB. Income Tax Expense Income Tax Payable 10,000 10,000 70,000 OC. Income Tax Expense Income Tax Payable 70,000 50,000 OD. Income Tax Expense Income Tax Payable 50,000
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