Southern Corporation has pretax accounting income of $575,000 and taxable income of $560,000. The company's income tax rate is 35%. The entry to record the income tax includes a:
A) debit to Deferred Tax Asset $5,250.
B) debit to Deferred Tax Asset $196,000.
C) credit to Deferred Tax Liability $5,250.
D) credit to Deferred Tax Liability $196,000.
Correct Answer:
Verified
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