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Tribal Corporation had the following activity that produced differences in book and tax treatment occur during the year. Classify whether each book-tax difference is generally

Tribal Corporation had the following activity that produced differences in book and tax treatment occur during the year. Classify whether each book-tax difference is generally favorable or unfavorable (F or U), temporary or permanent (T or P).

Bad debt expense when first estimate likely may not be paid but not yet very certain it will not be paid

I.

Favorable, temporary

II.

Unfavorable, temporary

III.

Favorable, permanent

IV.

Unfavorable, permanent

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