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Business, 18.03.2021 01:50 avillarreal332

In year 1, Kelley estimates bad debt expense of $10,000 for financial reporting purposes. The amount of bad debts deductible on the tax return was $2,000. The difference will be deducted on the tax return in the following year. The income tax rate is 40%. What is the balance in the deferred tax asset account at the end of year 1

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In year 1, Kelley estimates bad debt expense of $10,000 for financial reporting purposes. The amount...
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