Multiple Choice
Eastwich Corporation has pretax accounting income of $575,000 and taxable income of $560,000.The company's income tax rate is 30%.The journal entry to record the income tax includes a:
A) debit to Deferred Tax Asset $4,500.
B) credit Income Tax Payable $172,500.
C) credit to Deferred Tax Liability $4,500.
D) debit Income Tax Expense $168,000.
Correct Answer:
Verified
Correct Answer:
Verified
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