Sera Corporation has made and recorded its quarterly income tax payments. After a final review of...

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Sera Corporation has made and recorded its quarterly income tax payments. After a final review of taxes for the year, the com

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Answer 1

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Sera Corporation - Journal Entries
Event	Particulars	Debit	Credit
1	Income tax expense Dr	$32,000.00
	To Income taxes payable		$27,200.00
	To Deferred tax liability		$4,800.00
	(To record income tax expense)

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Answer 2

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