At December 31, 2020, Shamrock Corporation has a deferred tax asset of $204,000. After a...
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Accounting
At December 31, 2020, Shamrock Corporation has a deferred tax asset of $204,000. After a careful review of all available evidence, it is determined that it is more likely than not that $61,200 of this deferred tax asset will not be realized.
Prepare the necessary journal entry.
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