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Computing and Reporting Deferred Income Taxes The tax rate in each year...

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Accounting

Computing and Reporting Deferred Income Taxes
The tax rate in each year was 25%.
REQUIRED
i. Prepare the journal entries to record income taxes for 2022 and 2023.
ii. Prepare the journal entries to record income taxes for 2022 and 2023 if in 2022 the U.S. enacts a permanent tax rate change to be effective in 2023 ; the rate will increase to 35%.
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