Information for Kent Corp. for the year 2021:

Reconciliation of pretax accounting income and taxable income:
Pretax accounting income $ 180,200
Permanent differences (14,000 ) 166,200
Temporary difference-depreciation (10,900 )
Taxable income $ 155,300

Cumulative future taxable amounts all from depreciation temporary differences:
As of December 31, 2020 $ 11,700
As of December 31, 2021 $ 22,600

The enacted tax rate was 25% for 2020 and thereafter. What should Kent report as the current portion of its income tax expense in the year 2021?

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Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale.required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse.b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this.c. explain the difference between sale of receivables with recourse as oppose to without recourse.

When a market is in equilibrium, the buyers are those with the willingness to pay and the sellers are those with the costs.