The following adjusting journal entry found in the journal is missing an explanation. Select the best explanation for the entry.
A)Record payment of taxes.
B)Record taxes expense incurred and to be paid in next period.
C)Record taxes paid in advance.
D)Record tax bill received from government.

Question

The following adjusting journal entry found in the journal is missing an explanation. Select the best explanation for the entry. 
A)Record payment of taxes. 
B)Record taxes expense incurred and to be paid in next period. 
C)Record taxes paid in advance. 
D)Record tax bill received from government.

Quizplus · Accepted Answer

The Answer of The following adjusting journal entry found in the journal is missing an explanation. Select the best explanation for the entry. 
A)Record payment of taxes. 
B)Record taxes expense incurred and to be paid in next period. 
C)Record taxes paid in advance. 
D)Record tax bill received from government.

The Following Adjusting Journal Entry Found in the Journal Is