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Business, 26.06.2020 17:01 ofmiceandkj1

Sera Corporation has made and recorded its quarterly income tax payments. After a final review of taxes for the year, the company identifies an additional $31,000 of income tax expense that should be recorded. A portion of this additional expense, $4,700, is deferred for payment in future years. Prepare a journal entry to record Sera’s year-end adjusting entry for income tax expense.

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