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Business, 13.06.2021 05:00 amakayla57

Chegg 'ABC is a domestic corporation with $14,625,000 of GAAP financial accounting income and includes $1,250,000 of tax-exempt municipal bond interest. ABC computes bad debt expense for book purposes using the reserve method which exceeds bad debt expense for tax under the direct write-off methods by $125,000. ABC tax depreciation using MACRS exceeds S/L depreciation for book purposes by $250,000. What is the debit to Federal Income Tax Expense

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