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  3. 18-12 cole company had a deferred tax liability of

18-12 Cole Company had a deferred tax liability of $1,000 at the end of Year...

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Accounting

18-12 Cole Company had a deferred tax liability of $1,000 at the end of Year 1 when the tax rate was 20%. In Year 2, Congress increases the income tax rate from 20% to 30%. Required: Record the journal entry Cole would make to adjust for this change.

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