. During the year, CALCORS COMPANY purchased an asset that was supposed to have $31,078....
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Accounting
. During the year, CALCORS COMPANY purchased an asset that was supposed to have $31,078. However, the accountant accidentally booked double the amount of depreciation expense. The company paid income taxes of 11,337 during the year based on this incorrect depreciation expense. The income tax rate is 19%. To fix this error, the Company would record an entry to income tax payable of
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