Sunland Corporation prepared the following reconciliation for its first year of operations: The temporary difference...
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Sunland Corporation prepared the following reconciliation for its first year of operations: The temporary difference will reverse evenly over the next 2 years at an enacted tax rate of 30%. The enacted tax rate for 2021 is 25%. What amount should be reported in its 2021 income statement as the deferred portion of income tax expense? $120500 credit $101400 debit $120500 debit: $101400 credit
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