Suppose net income for 2019 is $200,000 and the income tax rate is 0.15. The...
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Accounting
Suppose net income for 2019 is $200,000 and the income tax rate is 0.15. The amount of income tax is due and not yet paid. The adjusting entry should be
a.
Debited to income tax payable 30000
b.
Credited to income tax expense 30000
c.
Credited to sales tax payable 30000
d.
Debited to sales tax payable 30000
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