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  1. business
  2. accounting
  3. for each of the five independent situations below,

For each of the five independent situations below, prepare a single journal entry that summarizes...

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Accounting

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For each of the five independent situations below, prepare a single journal entry that summarizes the recording and payment of income taxes and determine the amount of cash paid for income taxes. All dollars are in millions. Complete this question by entering your answers in the tabs below. Cash Paid for General Journal Taxes answers in millions rounded to 1 decimal Calculate the amount of cash paid for income taxes for each situation. (Ent place (i.e., 5,500,000 should be entered as 5.5).) Cash Paid for akS Situation Income Tax Income Tax Payable Deferred Tax Liability Increase (Decrease) Increase (Decrease) 14.0 14.0 14.0 14.0 14.0 Expense Taxes 3.4 (2.4) 2.4 (2.4) 3.4 (3.4) General Journal >

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