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Windsor Company has the following two temporary differences between its income tax expense and income taxes payable. 2020 2021 2022 Pretax financial income $816,000
Windsor Company has the following two temporary differences between its income tax expense and income taxes payable. 2020 2021 2022 Pretax financial income $816,000 $925,000 $930,000 Excess depreciation expense on tax return (30,200) (40,900) (10,200) Excess warranty expense in financial income 20,900 9,700 8,000 Taxable income $806,600 $893,800 $927,000 The income tax rate for all years is 20%. (a) Assuming there were no temporary differences prior to 2020, prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020, 2021, and 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation eTextbook and Media List of Accounts Save for Later Using multiple attempts will impact your score. 5% score reduction after attempt 1 (b) Debit 2020 2021 2022 Credit Attempts: 0 of 3 used Submit Answer The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above.
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