On June 1, Jenni invested $4,000 into a mutual fund. By December 31, the value of the mutual fund had increased to $5,200. Jenni did not sell any portion of the mutual fund during the year. Assuming Jenni's income tax rate on this investment will be 25%, the journal entry to record the income tax expense is

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The Answer of On June 1, Jenni invested $4,000 into a mutual fund. By December 31, the value of the mutual fund had increased to $5,200. Jenni did not sell any portion of the mutual fund during the year. Assuming Jenni's income tax rate on this investment will be 25%, the journal entry to record the income tax expense is

On June 1, Jenni Invested $4,000 into a Mutual Fund